-

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

Season three trailer of Dark Side of the Ring released

Dark Side of the Ring from VICE TV will return with season three starting May 6 at 9PM ET.The...

Sasha Banks repeats claim that she’s main evening night one of WrestleMania 37

Appearing on the Token CEO podcast with Erika Nardini, Smackdown Women's champion Sasha Banks repeated her claim that her...

NXT Takeover: Stand & Deliver night two results

Here are the results from last night's NXT Takeover: Stand & Deliver night two which took place live from...
spot_img

Stories you might also likeRELATED
Recommended to you