NEW YORK–(BUSINESS WIRE) — Labatonsucharow, a nationally ranked, award-winning shareholder protection law firm, announces an investigation into potential violations of federal securities laws by World Wrestling Entertainment, Inc. (“World Wrestling Entertainment” or “The Company”) (New York Stock Exchange: WWE).
June 15, 2022, shortly before market close, Wall Street Magazine reported that the board of World Wrestling Entertainment (“WWE”) was investigating a secret $3 million deal between longtime CEO Vince McMahon and a departing employee with whom he allegedly had an affair.
Shares of World Wrestling Entertainment fell nearly 3% in intraday trading on June 16, 2022.
Then, on June 17, 2022, before the market opened, WWE announced that Chairman and CEO Vince McMahon would step down from both positions amid an ongoing investigation, and that his daughter and WWE board member Stephanie McMahon would return to the company as interim CEO. director.
The WWE Board of Directors released a statement announcing that they had formed a special committee to investigate the alleged misconduct of Vince McMahon and another WWE employee.
Shares of World Wrestling Entertainment fell almost 4% on this news in intraday trading on June 17, 2022.
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If you would like additional information free of charge and to protect your investment, please contact David J. Schwartz toll-free at (800) 321-0476 or email email@example.com.
Labatonsucharow LLP is one of the world’s leading law firms representing clients in securities, antitrust, corporate governance and shareholder law litigation, as well as consumer cybersecurity and data privacy disputes. Labatonsucharow has been recognized by courts and peers for its excellence and is consistently ranked by leading trade publications. Offices are located in New York, New York, Wilmington, Delaware and Washington, DC. For more information about Labatonsucharow, visit labaton.com.