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Two more law firms have ossied press releases announcing they too, are investigating WWE:
NEW YORK, NY / ACCESSWIRE / June 21, 2022 / Pomerantz LLP is investigating claims on behalf of investors of World Wrestling Entertainment, Inc. ("WWE" or the "Company") (NYSE:WWE). Such investors are advised to contact Robert S. Willoughby at rswilloughby@pomlaw.com or 888-476-6529, ext. 9980.
The investigation concerns whether WWE and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
[Click here for information about joining the class action]
On June 17, 2022, WWE announced that its Chairman and Chief Executive Officer ("CEO") Vincent McMahon would be stepping down from those roles, with his daughter Stephanie returning to the company as interim Chief Executive Officer amid an ongoing investigation into an alleged secret hush deal with a former employee. WWE stated that it had formed a special committee to investigate the alleged improper behavior of CEO McMahon and John Laurinaitis, head of talent relations, who reportedly had relationships with a former employee and allegedly paid her a secret $3M settlement.
On this news, WWE's stock price fell $2.36 per share, or 3.64%, to close at $62.51 per share on June 17, 2022.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
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New York, New York--(Newsfile Corp. - June 22, 2022) - Moore Kuehn, PLLC, a securities law firm located on Wall Street, is investigating whether certain officers and directors of Wrestling Entertainment Inc. (NYSE: WWE) breached their fiduciary duties to shareholders.
On June 15, 2022, The Wall Street Journal reported that WWE's Board of Directors was investigating "a secret $3 million settlement that longtime chief executive Vince McMahon agreed to pay to a departing employee with whom he allegedly had an affair." The article further reported that "the board's investigation, which began in April, has unearthed other, older nondisclosure agreements involving claims by former female WWE employees of misconduct by Mr. McMahon and one of his top executives, John Laurinaitis."
On June 17, 2022, the Company announced that Vincent McMahon "voluntarily stepped back from his responsibilities as CEO and Chairman of the Board until the conclusion of the investigation."
If you are a long-term WWE stockholder please contact Justin Kuehn, Esq. by email at jkuehn@moorekuehn.com or telephone at (212) 709-8245. There is no cost to you. Moore Kuehn is a New York-based law firm with attorneys representing investors and consumers. Please visit http://www.moorekuehn.com/practice/new-york-shareholder-derivative-litigation/.
Attorney advertising. Prior results do not guarantee similar outcomes.
Moore Kuehn, PLLC
Justin Kuehn, Esq.
30 Wall Street, 8th Floor
New York, New York 10005
jkuehn@moorekuehn.com
(212) 709-8245
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