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.
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December 27, 2019 at 3:50 pm
It might not have any merit, but it will add fuel to the fire of those who blame Vince McMahon for ruining wrestling.
December 28, 2019 at 2:38 pm
If they are worried why don’t they just invest into the XFL lol
December 28, 2019 at 7:31 pm
Reality is that Vince McMahon sold some of his shares in WWE to fund XFL 2 & that money is his to do what he wants separate from WWE, just like Jeff Bezos & Elon Musk are doing with their space companies
December 28, 2019 at 7:35 pm
If it does have merit, it will sting all the more when the XFL inevitably crashes & burns again. It didn’t work when people were watching Vince’s wrestling product faithfully…why would it now?