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Bloomberg Law is reporting that a WWE shareholder, Dennis Palkon, is suing WWE before the Delaware Chancery Court, hoping to "bar McMahon from the board" of World Wrestling Entertainment.
According to the report, the lawsuit was filed on 1/26 and "seeks internal files from WWE to investigate claims that McMahon “raped and sexually assaulted employees and contractors over the course of decades,” then paid nearly $15 million to keep a lid on the accusations.
“There are serious questions about how Vince McMahon obtained and delivered those funds to his victims,” according to the complaint.
Bloomberg's report also states that lawsuit alleges that McMahon's return to the company last month showed “a flagrant disregard for basic corporate governance norms.” Believing “that the rules do not apply to him, Vince McMahon removed three independent directors and re-appointed himself, as well as two of his longtime cronies,” the suit says. “The apparent misconduct here is both myriad and extremely serious.”
The report also notes that the lawsuit states its ultimate goal, if the disclosure of internal records related to McMahon's payoffs are proof of fiduciary breach claims is that, “plaintiff intends to achieve what the board wanted to, but could not in light of Vince McMahon’s thuggery,” therefore hoping to kick off proceedings that would “bar Vince McMahon from ever serving on the WWE board again."
WWE did not respond to Bloomberg's request for comment.
This would be the fourth lawsuit filed by a WWE shareholder in regard to McMahon's return to the company, which led to the resignation of his daughter, Stephanie McMahon and a number of other Board Members either being fired or resigning of their own accord.
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