WWE Shareholder Sues Vince McMahon Over XFL
Xtremely Frustrating Lawsuits?
Bloomberg Law is reporting that one WWE shareholder plans to sue Vince McMahon and the company over their involvement in the upcoming XFL football league.
The lawsuit was filed on 26 December at Delaware Chancery Court by an Oklahoma firefighters pension fund and claims there is a "credible basis to believe" that McMahon and several other "senior WWE officers" are directly breaching their duties to company investors by using valuable resources to fund the sporting offshoot.
This is obviously a bit of a pain for Vince and directors. They're currently all set to kick off the revamped XFL's first games following the conclusion of the NFL's 100th season in February, and hope that streamlined rules will help the league gain an advantage over the NFL (which has been recently blighted by pesky rule changes and a multitude of off-field controversies and on-field stoppages).
In addition to suing for breach of duty, the lawsuit also alleges that McMahon and others board members within WWE failed to ensure that Vince's XFL wouldn't "engage in transactions that conflict with WWE's interests".
The suit probably won't derail McMahon's XFL plans, but it is a nuisance to the WWE chief.