Two More Law Firms Investigating WWE On Potential Violations Of The Federal Secu

[Liz]

Two more law firms are investigating WWE.

Labaton Sucharow and Bragar Eagel & Squire both sent out press releases announcing they are investigating WWE on whether the company has violated the federal securities laws and/or engaged in other unlawful business practices.

From Business Wire:

SHAREHOLDER ALERT - Labaton Sucharow Investigating World Wrestling Entertainment, Inc. - WWE

June 20, 2022 06:46 PM Eastern Daylight Time

NEW YORK--(BUSINESS WIRE)--Labaton Sucharow, a nationally ranked and award-winning shareholder rights law firm, announces that it is investigating potential violations of the federal securities laws by World Wrestling Entertainment, Inc. ("World Wrestling Entertainment" or "the Company") (NYSE:WWE).

On June 15, 2022, just before the market closed, The Wall Street Journal reported that the board at World Wrestling Entertainment ("WWE") is investigating a secret $3 million settlement between longtime CEO Vince McMahon and a departing employee with whom he allegedly had an affair.

Shares of World Wrestling Entertainment stock traded down close to 3% in intraday trading on June 16, 2022.

Then on June 17, 2022, before the market opened, WWE announced that Chairman and CEO Vince McMahon would be stepping down from both roles amid the ongoing investigation, and that his daughter and WWE board member, Stephanie McMahon, would return to the company as interim CEO.

The WWE board of directors issued a statement announcing that they formed a special committee to investigate the alleged improper behavior of Vince McMahon and another WWE employee.

On this news, shares of World Wrestling Entertainment fell nearly 4% in intraday trading on June 17, 2022.

If you currently own stock or options in World Wrestling Entertainment, Inc. and suffered a loss, click here to participate.

If you want to receive additional information and protect your investments free of charge, please contact David J. Schwartz using the toll-free number (800) 321-0476 or via email at david@labaton.com.

About the Firm

Labaton Sucharow LLP is one of the world's leading complex litigation firms representing clients in securities, antitrust, corporate governance and shareholder rights, and consumer cybersecurity and data privacy litigation. Labaton Sucharow has been recognized for its excellence by the courts and peers, and it is consistently ranked in leading industry publications. Offices are located in New York, NY, Wilmington, DE, and Washington, D.C. More information about Labaton Sucharow is available at labaton.com.

Contacts

David J. Schwartz

(800) 321-0476

david@labaton.com

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WWE ALERT: Bragar Eagel & Squire, P.C. is Investigating World Wrestling Entertainment, Inc. on Behalf of WWE Stockholders and Encourages Investors to Contact the Firm

June 19, 2022 09:00 PM Eastern Daylight Time

NEW YORK--(BUSINESS WIRE)--Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, is investigating potential claims against World Wrestling Entertainment, Inc. ("WWE" or the "Company") (NYSE: WWE) on behalf of WWE stockholders. Our investigation concerns whether WWE has violated the federal securities laws and/or engaged in other unlawful business practices.

Click here to participate in the action.

WWE is the subject of a June 15, 2022, article in the Wall Street Journal titled: "WWE Board Probes Secret $3 Million Hush Pact by CEO Vince McMahon, Sources Say." According to the article, the Company's board "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 continues, "the 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, the Company issued a press release stating, "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."

On this news, WWE stock fell $1.94, or 3%, to close at $62.51 on June 17, 2022.

If you purchased or otherwise acquired WWE shares and suffered a loss, are a long-term stockholder, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Melissa Fortunato by email at investigations@bespc.com, by telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.

About Bragar Eagel & Squire, P.C.:

Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York and California. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.

Contacts

Bragar Eagel & Squire, P.C.

Brandon Walker, Esq.

Melissa Fortunato, Esq.

(212) 355-4648

investigations@bespc.com

www.bespc.com

On Wednesday, June 15, the Wall Street Journal published a report saying the WWE board of directors is investigating McMahon on a secret $3 million hush pact regarding an alleged affair.