A World Wrestling Entertainment Inc.(WWE) shareholder is suing Vince McMahon and the WWE over the XFL. They want access to records that detail the company’s involvement with the new XFL.
From 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.”
Just because a person files a lawsuit doesn’t mean it has merit. It could be thrown out after a judge looks at it or the judge feels there is something to look into further.
XFL News Hub will keep an eye on this lawsuit and provide any details when we hear.