Yet another law firm is investigating WWE.
At least eight law firms are now investigating WWE over Vince McMahon’s alleged $3 million hush payment to a former WWE employee he allegedly had an affair with.
Kahn Swick & Foti, LLC issued the following press release on Friday to announce that they are now looking into the allegations:
WORLD WRESTLING ENTERTAINMENT INVESTIGATION INITIATED by Former Louisiana Attorney General: Kahn Swick & Foti, LLC Investigates the Officers and Directors of World Wrestling Entertainment, Inc. – WWE
Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a partner at the law firm of Kahn Swick & Foti, LLC (“KSF”), announces that KSF has commenced an investigation into World Wrestling Entertainment, Inc. (“WWE”) (NYSE: WWE).
On June 17, 2022, the Company disclosed that Chairman and CEO Vincent McMahon was stepping back from his responsibilities as CEO and Chairman of the Board pending an investigation into allegations reported by media sources that he paid $3 million to a departing employee with whom he allegedly had an affair, and that since the investigation began in April, the board had uncovered multiple, older nondisclosure agreements with former WWE employees that involved claims against McMahon and John Laurinaitis, head of talent relations.
KSF’s investigation is focusing on whether WWE’s officers and/or directors breached their fiduciary duties to the Company’s shareholders or otherwise violated state or federal laws.
If you have information that would assist KSF in its investigation, or have been a long-term holder of WWE shares and would like to discuss your legal rights, you may, without obligation or cost to you, call toll-free at 1-877-515-1850 or email KSF Managing Partner Lewis Kahn ([email protected]), or visit https://www.ksfcounsel.com/cases/nyse-wwe/ to learn more.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation’s premier boutique securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, money managers and retail investors – in seeking to recover investment losses due to corporate fraud and malfeasance by publicly traded companies. KSF has offices in New York, California, Louisiana and New Jersey.
To learn more about KSF, you may visit www.ksfcounsel.com.