-

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.

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!

LATEST NEWS

TNT title match main event on Dynamite trounces NXT main event in viewers

In figures released by Dave Meltzer of the Wrestling Observer, the Dynamite main event of this week did nearly...

Hard To Kill 2021 live on pay-per-view tonight

Live from the Skyway Studios in Nashville, Tennessee, Impact Wrestling presents its first pay-per-view of 2021, Hard To Kill....

Smackdown rating for 01/15/2021

Friday Night Smackdown on FOX drew 2,152,000 viewers in the overnight ratings, an increase of 150,000 viewers from last...

- Advertisement -

Stories you might also likeRELATED
Recommended to you