Folks, if you thought the Vince McMahon drama was over, think again. New details have emerged in the ongoing shareholder class action lawsuit against WWE, and let’s just say—it’s messier than a contract signing on SmackDown.
What’s the Lawsuit About?
The lawsuit, originally filed in November 2023, claims that WWE’s investigation into Vince McMahon was a total sham and that WWE passed up a better deal just to ensure Vince could stay in power. If true, that means McMahon might’ve pulled off the ultimate backstage politicking move—sacrificing money for control. Because, as we all know, absolute power is worth more than a few extra billion dollars.
According to Wrestling Observer Newsletter, the plaintiffs include:
- Ohio & Michigan pension fund representatives (because nothing says “wrestling scandal” like dragging retirees into it).
- Dennis Palkon, a professor at Florida Atlantic University (apparently, he teaches a class on Corporate Chaos 101).
These folks requested access to WWE’s Board of Directors meeting minutes, and while a lot of the juicy stuff is redacted, they still found enough to call the whole investigation a cover-up.
Key Allegations Against WWE & McMahon
🔥 The Special Committee “investigating” Vince did… absolutely nothing.
- They didn’t interview victims.
- They didn’t review evidence.
- They didn’t issue a final report.
- Basically, their entire job was to sit there and go, “Huh, interesting!” before passing the problem along.
🔥 The Board originally wanted to keep Vince out—until he forced his way back in.
- Several Board members, including Man Jit Singh & Ignace Lahoud, tried to resign when the allegations first came out in 2022.
- Stephanie McMahon begged them to stay (via emails and voicemails, proving that even billion-dollar corporations have desperate group chats).
- In January 2023, Vince used his majority voting power to force his way back into WWE.
- The Board had unanimously voted to keep him out just one week prior.
🔥 WWE allegedly blocked other companies from bidding—just to secure the Endeavor deal.
- The lawsuit claims other bidders were prevented from making offers, ensuring that Endeavor was the only option.
- WWE’s sale was allegedly undervalued so that executives (and Vince) could cash out while keeping their influence.
- The lawsuit argues that this was at the expense of shareholders.
And now, several Board members, financial firms, and legal teams have been subpoenaed, meaning this legal saga isn’t ending anytime soon.
What’s Next?
If these allegations hold up, WWE could be looking at serious legal consequences—not to mention another wave of corporate chaos that might make Vince’s comeback tour a short one. The company has to answer for this in court, and depending on what the subpoenas uncover, things could get even worse.
But hey, in WWE’s world, controversy creates cash… unless, of course, you’re a shareholder.