WWE And Vince McMahon Sued By Shareholder Over XFL

[virus21]

A World Wrestling Entertainment Inc.(WWE) shareholder (a Oklahoma firefighters pension fund) is suing Vince McMahon and the WWE over the XFL.

The lawsuit was filed Dec. 26 in Delaware Chancery Court. The following was reported by Bloomberg Law:

“The lawsuit, filed Dec. 26 in Delaware Chancery Court by an Oklahoma firefighters pension fund, claims there is “a credible basis to believe” that McMahon and other WWE senior officers breached their duties to investors by diverting valuable resources to the XFL.”

“The suit also suggests that the company’s board members may have failed to conduct appropriate oversight to ensure McMahon didn’t engage in transactions that conflict with WWE’s interests.”


It should be noted that the lawsuit could be thrown out after a judge looks at it or the judge could decide there is something to look into further. The staff here at eWN will provide updates as they become available.

https://www.ewrestlingnews.com/news/wwe-and-vince-mcmahon-sued-by-shareholder-over-xfl

 

[Bobby Barrows]

Oh lord. WWE is a billion dollar company, and this pension fund is pissed a few million is allegedly being diverted? Fucking lol

 

[Sky]

It's about sending a message

 

[Bobby Barrows]

It's about sending a message

The bigger question should be what is a Firefighting Pension Fund from Oklahoma doing buying stock in a Connecticut based wrestling company?

 

[Sky]

IDK but anything that causes money to be diverted away from the richer side is a net positive IMO

 

[Deezy]

Fuck outta here......diverted money is done all the time.

This shit will be thrown out like any other frivolous lawsuits.