Lawsuit Brought Against Vince McMahon Has Been Dropped

A lawsuit filed by WWE shareholders has been dropped against the company’s Executive Chairman Vince McMahon. A few of the recent lawsuits again McMahon were due to the way came back and gained control of WWE.

WWE shareholders dropped a lawsuit recently, according to Bloomberg.

Shareholders leading the consolidated lawsuit agreed to drop it Wednesday, saying their claims became moot when McMahon agreed in late March to repay $17.4 million the company wracked up investigating him. Vice Chancellor J. Travis Laster granted the motion the same day.

The payment appears to cover only the cost of the probe, not the nearly $20 million McMahon allegedly paid his accusers since 2007. Counsel for the WWE investors indicated they plan to seek a “mootness fee” as a reward for their role in forcing McMahon’s hand.

A different group of shareholders is already seeking a mootness fee after dropping a related case when McMahon walked back some bylaw changes he’d pushed through as part of his corporate coup in early January. McMahon had left the board in mid-2022.
 
It was just one month ago after WrestleMania 39 when Endeavor acquired WWE in what will become a $21 million merger with UFC, which still gives the 77-year-old Vince McMahon a lot of power in WWE moving forward.

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