Home WWE Vince McMahon reimburses WWE $17.4 million for investigation costs

Vince McMahon reimburses WWE $17.4 million for investigation costs

In a Form 8-K filing with the United States Securities and Exchange Commission it was revealed that WWE Executive Chairman Vince McMahon has reimbursed WWE the $17.4 million in costs that the company incurred in the investigation over hush money payments.

The payment reflect costs through January 31, 2013 in connection with and/or arising from the investigation conducted by a special committee of the Company’s board of directors, related revisions to the Company’s financial statements and other related matters.

Any additional costs following January 31 will also be reimbursed by McMahon.

“The Agreement also includes a release of Mr. McMahon by the Company regarding the recovery of the costs described above and a release of the Company by Mr. McMahon regarding the investigation and related matters described above,” the SEC filing states.

The filing was signed by Maurice Edelson, Executive Vice President and Chief Legal Officer for WWE.

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