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Bloomberg Law has a story today stating that WWE shareholders who filed a lawsuit against Vince McMahon seeking repayment of the $17.4M that the company spent investigating him after last summer's scandal, where McMahon was accused of sexual assault and payouts of hush money from former employees, have dropped the Delaware litigation after McMahon agreed in March to repay the company for the money that it spent investigating him. The judge in the case granted the dismissal.
The article also noted:
McMahon and WWE continue to face other legal challenges, including a lawsuit filed in late April that accuses the company and its leaders of discriminating and retaliating against a Black female writer who objected to racist scripts and storylines used in wrestling broadcasts.
The investors leading the case are variously represented by Christensen & Dougherty LLP, Scott & Scott Attorneys at Law LLP, Bernstein Litowitz Berger & Grossmann LLP, Robbins LLP, and Richard A. Maniskas of Berwyn, Pa.
McMahon is represented by Potter Anderson & Corroon LLP. WWE is represented by Paul, Weiss, Rifkind, Wharton & Garrison LLP.
The case is In re World Wrestling Ent. Inc. Deriv. Stockholder Litig., Del. Ch., No. 2023-0039, 5/3/23.
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