An investigation for investors in World Wrestling Entertainment, Inc. (NYSE:WWE) shares over potential securities laws violations by World Wrestling Entertainment, Inc. was announced.
San Diego, CA -- (SBWIRE) -- 06/28/2022 -- An investigation was announced over potential securities laws violations by World Wrestling Entertainment, Inc. in connection with certain financial statements.
Investors who purchased shares of World Wrestling Entertainment, Inc. (NYSE: WWE), have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
The investigation by a law firm focuses on whether a series of statements by World Wrestling Entertainment, Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Stamford, CT based World Wrestling Entertainment, Inc., an integrated media and entertainment company, engages in the sports entertainment business in North America, Europe, the Middle East, Africa, the Asia Pacific, and Latin America.
On June 15, 2022, The Wall Street Journal published an article entitled "WWE Board Probes Secret $3 Million Hush Pact by CEO Vince McMahon, Sources Say" which revealed that "[t]he board of World Wrestling Entertainment Inc.  is investigating a secret $3 million settlement that longtime chief executive Vince McMahon agreed to pay to a departing employee with whom he allegedly had an affair, according to documents and people familiar with the board inquiry."
The article further revealed, among other things, that "[t]he board's investigation, which began in April, has unearthed other, older nondisclosure agreements involving claims by former female WWE employees of misconduct by Mr. McMahon and one of his top executives, John Laurinaitis, the head of talent relations at WWE, the people said."
On June 17, 2022, before trading hours, World Wrestling Entertainment, Inc issued a press release entitled "WWE® & Board of Directors Joint Release" which announced that "a Special Committee of the Board is conducting an investigation into alleged misconduct by its Chairman and CEO Vincent McMahon and John Laurinaitis, head of talent relations, and that, effective immediately, McMahon has voluntarily stepped back from his responsibilities as CEO and Chairman of the Board until the conclusion of the investigation."
Shares of World Wrestling Entertainment, Inc. (NYSE: WWE) declined from $68.73 per share on June 15, 2022, to as low as $60.95 per share on June 21, 2022.
Those who purchased shares of World Wrestling Entertainment, Inc. (NYSE: WWE) have certain options and should contact the Shareholders Foundation.
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About The Shareholders Foundation
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.