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WWE.US
id: 187
On July 25, 2022, WWE filed the SEC report which announced that “the Company has made a preliminary determination that certain payments that Vince McMahon (CEO) agreed to make during the period from 2006 through 2022, and that were not recorded in the WWE consolidated financial statements, should have been recorded as expenses in the quarters in which those agreements were made”. The Company has identified Unrecorded Expenses totaling approximately $14.6 million.”
Earlier on July 22, 2022, CEO Vince McMahon announced his retirement from WWE.
On this news, WWE’s stock price jumped by 8.44%, or $ 174 million of market capitalization, which can be identified as a violation of the rights of holders of short positions in shares.
Alleged Offence
Mismanagement
Misleading Statements
Financial Misrepresentation
Failure to Disclose
Malpractice
Negligence
Breach of Fiduciary duty
Omissions
Suspected Party
Directors
Management
Service Provider
Security Type
Stocks
Trade Direction
Short
Shock Event Date
25 July 2022
Collecting participants…

World Wrestling Entertainment Inc

World Wrestling Entertainment, Inc., an integrated media and entertainment company, engages in the sports entertainment business in North America, Europe, the Middle East, Africa, the Asia Pacific,...

    Ticker
    WWE.US
    ISIN
    US98156Q1085
    CIK
    1091907
    Sector
    Communication Services
    Industry
    Entertainment
    Country
    USA
    Address
    1241 East Main Street, Stamford, CT, United States, 06902