Kevin Dunn may be investigated for insider trading
WWE executive and long time Director Kevin Dunn may be investigated for Insider Trading.
The WWE Board of Directors are currently investigating multiple NDA payment agreements allegedly created to cover up sexual affairs belonging to Vince McMahon and John Laurinaitis. The investigation is said to have started in April.
Earlier today, Brandon Thurston of Wrestlenomics reported that there had been some suspicious stock movements in the hours before Wall St Journal’s expose was put out.
WWE's current directors are:
Executives: Vince McMahon, Nick Khan, Stephanie McMahon (still a member during her leave), Paul Levesque
— Brandon Thurston (@BrandonThurston) June 16, 2022
However, all eyes now look at WWE executive Dunn, who offloaded over one million dollars of stock in May. This would be over 15,000 shares.
Dunn has been a member of the WWE Board Of Directors since 2008. The board was made aware of the investigation in April. This would mean that Dunn will likely be investigated for insider trading as he used his knowledge as a member of the board to profit. It could also be considered stock manipulation due to Dunn having a major say in how the investigation would be handled.
The SEC can seek up to 20 years in prison for insider trading and up to a five million dollar fine.