John Laurinaitis Subpoenaed In WWE Shareholder Lawsuit (WWE News)
John Laurinaitis among latest names subpoenaed in WWE shareholder lawsuit.
The ongoing WWE shareholder lawsuit has now seen additional subpoenas filed, including John Laurinaitis.
As first reported by Wrestlenomics, Laurinaitis was scheduled to be deposed via a Zoom call from his attorney's office last Friday, with it presumed that this deposition took place. The full details of these subpoenas are not currently publicly available.
Not to be confused with the ongoing Janel Grant lawsuit against Vince McMahon and WWE - from which Ms. Grant dismissed Laurinaitis in May after he agreed to provide evidence in her case - this shareholder lawsuit was filed in November 2023, alleging that McMahon set in motion the 2023 merger with Endeavor so that he could remain in power, in turn ignoring other possible buyers who potentially wouldn't have kept McMahon in charge, and meaning that shareholder value may not have been maximised.
Brought by the WWE shareholders and led by the Ohio Laborers' Pension Fund, the defendants in this case include Vince McMahon, Nick Khan, Paul Levesque, and former board members Michelle Wilson and George Barrios. The plaintiffs allege that these defendants enabled McMahon's plan, which hindered any sort of fair sale process.
Additionally, Liberty Media and private equity firm KKR are also due to be deposed, with it believed that both companies were at one point potential bidders for WWE back in 2023. Personal assistants of McMahon - Paul Mangieri and Michael Mangieri - are two other names subpoenaed.
Further depositions are expected in the next few weeks, with this case now at the discovery phase.
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