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WWE.US

WWE Vince McMahon's Misconduct Case

  • In mid-2022, WWE faced a scandal over accusations of sexual misconduct and undisclosed payments vs. CEO V. McMahon, leading to his resignation.
  • On it, $WWE fell 5.5%, losing over $200M of shareholder value.
  • Investors may have reasons to suspect WWE, its BoD, and V. McMahon of misconduct and internal control setbacks that led to their losses.
On June 17, 2022, amidst an investigation by WWE's BoD into reported "hush money" paid to a former employee by Vince McMahon following an affair, McMahon stepped down as chairman and CEO of WWE. He was replaced by his daughter, Stephanie McMahon, as the interim chairwoman of WWE.

On this news, $WWE fell 5.5%+ and lost $200 million of its market capitalization over two trading days, seriously damaging shareholders.
  • On July 22, 2022, CEO Vince McMahon announced his retirement from WWE.
  • 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.”
On this news, $WWE jumped 8%+, or $ 174 million in market capitalization, which may be deemed as lost profits to shareholders in the past.

The Wall Street Journal reported that McMahon agreed to pay $12 million over the past 16 years to suppress allegations of sexual misconduct and infidelity.

Considering all the facts, investors may have reasons to suspect WWE & its BoD & V. McMahon of misconduct and internal control setbacks which consequently led to shareholder losses.
Alleged Offence
Financial Misrepresentation
Failure to Disclose
Malpractice
Breach of Fiduciary duty
Omissions
Suspected Party
Directors
Management
Security Type
Stocks
Trade Direction
Long
Shock Event Date
18 June 2022
Collecting participants…
Created by Stan Vick, Scout

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