Just when WWE thought their legal troubles couldn’t get any messier, a class action shareholder lawsuit in Delaware has come back to haunt them—like a bad creative decision from 2019. The amended complaint questions the legitimacy of WWE’s internal investigation into Vince McMahon and alleges that the sale to Endeavor/TKO was rigged to keep McMahon in power.
And if you thought this was just another run-of-the-mill corporate lawsuit, buckle up. This one’s got secret meetings, alleged cover-ups, and enough redacted documents to make the CIA jealous.
The “Sham” Investigation
At the heart of the lawsuit is WWE’s 2022 internal investigation into McMahon’s infamous hush money scandal. While WWE’s Board of Directors publicly claimed the investigation was substantially complete by August 15, 2022, the lawsuit alleges that behind closed doors, the investigation was still ongoing—and, worse, that it was never meant to uncover anything meaningful.
According to the lawsuit, the Board’s Special Committee investigating McMahon was intentionally set up to do absolutely nothing—no interviews with McMahon’s accusers, no written reports, no evidence reviewed. Essentially, the investigation had the same level of effort as a WWE referee during a Bloodline match.
Did Vince Rig the Sale to Endeavor?
The lawsuit’s main allegation is that McMahon manipulated WWE’s sale process to ensure that only Endeavor CEO Ari Emanuel had a legitimate shot at buying the company. The plaintiffs argue that WWE executives ignored other potential bidders—including Liberty Media and the Abu Dhabi Investment Authority—because the deal with Endeavor let McMahon stay in power.
Even juicier? The lawsuit claims executives like Nick Khan, Paul Levesque (Triple H), and Frank Riddick received massive paydays as part of the merger, suggesting their real priority wasn’t shareholder value—it was making sure their own pockets were lined.
Subpoenas Are Flying
To get to the bottom of this alleged corporate soap opera, the plaintiffs have subpoenaed multiple parties, including:
✅ WWE Board members
✅ J.P. Morgan & Moelis & Company (banking firms involved in the sale)
✅ Paul, Weiss & Kirkland & Ellis (law firms tied to WWE’s legal dealings)
✅ Vestry Laight (the investigative firm that allegedly helped WWE bury the McMahon scandal)
The lawsuit is essentially accusing WWE of misleading its own investors—which, if proven true, could result in major financial and legal consequences for the company.
What’s Next?
With subpoenas flying and potential alternative bidders coming to light, this case could unravel even more behind-the-scenes details about WWE’s biggest business move in history. Will it expose a rigged system that kept McMahon in control? Or will it be just another lawsuit that quietly disappears like an abandoned storyline?
Either way, WWE’s legal department better clear their schedule.