Vince McMahon (WWE)
Last month, Vince McMahon rejoined WWE’s Board of Directors to oversee a potential sale of his multi-billion-dollar company and negotiate new TV deals. His comeback led to his daughter Stephanie McMahon stepping down, leaving Nick Khan as the sole CEO of the prominent wrestling organization.
Throughout January, Vince faced multiple lawsuits from various parties concerning his return to the WWE Board. Bloomberg reports that on January 26th, shareholder Dennis Palkon initiated a new lawsuit in Delaware Chancery Court against WWE.
This lawsuit seeks access to WWE’s internal documents to investigate claims that McMahon engaged in “rape and sexual assault” against employees and contractors over many years and used millions in hush money to suppress these claims.
The filing also questions how McMahon acquired and distributed these funds, accusing his return as Executive Chairman of showing a “flagrant disregard for basic corporate governance norms.”
The lawsuit argues that if evidence reveals McMahon violated his fiduciary duties, the plaintiff aims to do what the board could not—bar McMahon from ever serving on the WWE board again due to his alleged misconduct.
In addition to this case, WWE is contending with three other lawsuits related to McMahon’s reappointment.
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