Scheduled WWE shareholder lawsuit taken off calendar, reason still unknown

Bloomberg Law is reporting that the upcoming WWE shareholders lawsuit has been taken off the schedule. It was set to start on Monday, June 8.

An attorney for the shareholders, Greg Varallo of Bernstein Litowitz Berger & Grossmann LLP, said late Friday afternoon that the trial was no longer on the Delaware Chancery Court’s calendar and declined to elaborate when asked for a reason.

Vince McMahon, Nick Khan, Paul “Triple H” Levesque, Stephanie McMahon, Ari Emanuel, and others were all scheduled to testify in the case.

The lawsuit was seeking hundreds of millions in dollars in damages after shareholders accused WWE of discarding other potential bidders in favor of a deal with Endeavor which led to the creation of TKO.

The suit claims that McMahon only chose Endeavor and his friend Ari Emanuel because he knew that he could keep control over WWE after he sold, something that wasn’t the case with other bidders.

It could be that TKO found an out-of-court settlement with shareholders just days before the trial.