Another Law Firm Investigating WWE & Vince McMahon On Behalf of Shareholders
Vince McMahon is back and in charge of WWE once more, but the Chairman isn’t exactly feeling the love.
McMahon returned to WWE’s Board of Directors less than a month ago and has since been appointed as Executive Chairman.
The 77-year-old’s return has seen several departures, including his daughter Stephanie, and Man Jit Singh, the board member who oversaw last year’s investigation into the billionaire.
It is believed by some that McMahon’s strong-arming his way back into WWE was in violation of rules set out by the company.
Bronstein, Gewirtz, & Grossman announced this week that they are investigating WWE for “violations of the securities laws” on behalf of WWE investors.
The investigation will look into “whether WWE and/or the company’s officers and directors violated the securities laws or breached their fiduciary duties in connection with the above-alleged misconduct.”
This investigation by Bronstein, Gewirtz, & Grossman is just the latest in a growing list of investigations looking at Mcmahon’s return.
It has previously been reported that Detroit’s Police and Fire Retirement System filed a lawsuit against McMahon after being voted back on to the WWE Board of Directors.
Another lawsuit into McMahon has been filed in Delaware’s Chancery Court, alleging McMahon pushed aside the board to install himself as chairman again illegally.
A separate lawsuit, suing over McMahon’s alleged history of paying to cover up sexual harassment accusations, also questions the legitimacy of McMahon’s return to WWE.
It was reported that McMahon (WWE’s majority shareholder) was ready to vote against any sales offers or TV rights deals if he was not brought back to the promotion.
