NEW YORK--(BUSINESS WIRE)--Labaton Sucharow, a nationally ranked and award-winning shareholder rights law firm, announces that it is investigating potential violations of the federal securities laws by World Wrestling Entertainment, Inc. (“World Wrestling Entertainment" or "the Company") (NYSE:WWE).
On June 15, 2022, just before the market closed, The Wall Street Journal reported that the board at World Wrestling Entertainment ("WWE") is investigating a secret $3 million settlement between longtime CEO Vince McMahon and a departing employee with whom he allegedly had an affair.
Shares of World Wrestling Entertainment stock traded down close to 3% in intraday trading on June 16, 2022.
Then on June 17, 2022, before the market opened, WWE announced that Chairman and CEO Vince McMahon would be stepping down from both roles amid the ongoing investigation, and that his daughter and WWE board member, Stephanie McMahon, would return to the company as interim CEO.
The WWE board of directors issued a statement announcing that they formed a special committee to investigate the alleged improper behavior of Vince McMahon and another WWE employee.
On this news, shares of World Wrestling Entertainment fell nearly 4% in intraday trading on June 17, 2022.
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If you want to receive additional information and protect your investments free of charge, please contact David J. Schwartz using the toll-free number (800) 321-0476 or via email at email@example.com.
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