-

Lawsuit filed against WWE over resources diverted to XFL

Bloomberg is reporting that WWE was served with a lawsuit by an Oklahoma firefighters pension fund which claims that there is “a credible basis to believe” that WWE Chairman and CEO Vince McMahon and other WWE senior officials breached their duties to investors by diverting resources to the XFL.

Vince McMahon’s XFL is promoted to be as a separate entity than WWE but in the past, WWE teams helped with several production and live broadcasts. Unlike last time around, the XFL does not fall under the WWE books and it’s a project that Vince McMahon funded by selling thousands of his WWE stocks.

The lawsuit also suggests that WWE’s board members failed to conduct appropriate oversight to ensure McMahon didn’t engage in transactions that conflict with WWE’s interests.

The lawsuit was filed on December 26 in Delaware Chancery Court.


Discover more from Wrestling-Online.com

Subscribe to get the latest posts sent to your email.

Colin Vassallo
Colin Vassallohttps://www.wrestling-online.com
Colin Vassallo has been editor of Wrestling-Online since 1996. He is born and raised in Malta, follows professional wrestling and MMA, loves to travel, and is a big Apple fan!

Stories you might also likeRELATED
Recommended to you

LATEST NEWS

Winter Is Coming Dynamite live tonight on TBS

AEW's annual tradition of Winter Is Coming returns tonight live on TBS from the T-Mobile Center in Kansas City,...

WWE sells former production studios in Stamford for $7.5 million

CTInsider.com is reporting that WWE has managed to sell its former production studios located on Hamilton Avenue in Stamford...

Fenix deletes controversial comments from X

Fenix has deleted all his comments related to the "inhumane treatment" saga on X, with the only trace of...

Discover more from Wrestling-Online.com

Subscribe now to keep reading and get access to the full archive.

Continue reading