The troubles are seeming to be unending on the part of Vince McMahon. Sharks of tension surround former WWE Boss as firms demand probe.
The universe of WWE is keenly observing all the developments that are taking place in WWE. The fans, especially are eager to know about the future of the former Chief of WWE with the company.
The company that he purchased from his father grew from a pro wrestling territory to a global sports entertainment corporation. As the result of the WWE Chief allegedly paying employees he’s had relationships with to keep silent. The other law firms are looking for investors who feel they’ve lost money.
As per Brandon Thurston of Wrestlenomics there exist five different firms that are looking forward to speaking to the investors of WWE. They are looking to speak regarding the class action cases against the wrestling company. The five different firms are Brager Eagel & Squire, Labaton Sucharow, Rosen Law Firm, Scott+Scott, and Schall Law Firm.
Sharks of tension surround the former Boss of WWE Vince McMahon
The press releases of all the aforesaid firms are asking the investors of WWE to contact them. On the 16th of June 2022, the next full trading day after the Wall Street Journal first reported on the Board’s investigation of Vince McMahon.
The stock of the company of WWE was down $2.31 per share, or 3.4%, closing at $64.87 per share. On the very next day, there was an announcement that Vince would be stepping down from his role. He was replaced by his daughter Stephanie McMahon. Again, the stock price fell nearly 4% in intraday trading.
The clouds of tension started surrounding the former Chief of WWE, Vince McMahon after the publishing of the report by The Wall Street Journal.
As per the report of WSJ, McMahon paid a secret settlement of around $3 million to an employee with whom he allegedly had an affair. The WWE board is currently investigating the allegations made against McMahon and the report further claimed that the board has found other nondisclosure agreements hinting at more claims of misconduct by McMahon.
Post this, Vince stepped down from the position of the CEO and Chairman of the company of WWE. In the meanwhile, it is his daughter, Stephanie McMahon who has taken up the responsibility. Stephanie has been appointed as the interim CEO of WWE.
During the course of the period the former CEO of WWE, Vince made his appearance on the WWE segment. The fans of WWE and Vince were looking forward to the clarification from him but the former WWE Boss chose to remain silent about the issue.
