Another law firm investigating WWE

Jun 25, 2022 - by James Walsh

Photo Credit: WWE

We can add another law firm to the list of those investigating WWE for possible breach of fiduciary duties. As you may know, seven previous firms announced investigations into whether WWE breached their fiduciary responsibilities or committed securities fraud in relation to Vince McMahon’s alleged $3 million hush payment to a WWE employee he had an intimate relationship with. That list is up to eight now, with PWInsider reporting that Kahn Swick & Foti, LLC have commenced an investigation into the company for the same reason.

You can check out the full press release below:

WORLD WRESTLING ENTERTAINMENT INVESTIGATION INITIATED by Former Louisiana Attorney General: Kahn Swick & Foti, LLC Investigates the Officers and Directors of World Wrestling Entertainment, Inc. – WWE
Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a partner at the law firm of Kahn Swick & Foti, LLC (“KSF”), announces that KSF has commenced an investigation into World Wrestling Entertainment, Inc. (“WWE”) (NYSE: WWE).

On June 17, 2022, the Company disclosed that Chairman and CEO Vincent McMahon was stepping back from his responsibilities as CEO and Chairman of the Board pending an investigation into allegations reported by media sources that he paid $3 million to a departing employee with whom he allegedly had an affair, and that since the investigation began in April, the board had uncovered multiple, older nondisclosure agreements with former WWE employees that involved claims against McMahon and John Laurinaitis, head of talent relations.

KSF’s investigation is focusing on whether WWE’s officers and/or directors breached their fiduciary duties to the Company’s shareholders or otherwise violated state or federal laws.

If you have information that would assist KSF in its investigation, or have been a long-term holder of WWE shares and would like to discuss your legal rights, you may, without obligation or cost to you, call toll-free at 1-877-515-1850 or email KSF Managing Partner Lewis Kahn (lewis.kahn@ksfcounsel.com), or visit https://www.ksfcounsel.com/cases/nyse-wwe/ to learn more.

KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation’s premier boutique securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, money managers and retail investors – in seeking to recover investment losses due to corporate fraud and malfeasance by publicly traded companies. KSF has offices in New York, California, Louisiana and New Jersey.

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