WWE Sale Latest: Vince McMahon Now Being SUED By Shareholder
The returning Executive Chairman Of The Board is already in some legal hot water.
Vince McMahon has had a class action complaint filed against him by a WWE shareholder following his surprising and controversial return to the organisation.
Plaintiff Scott Fellows is a Class A stockholder, and filed suit on Tuesday, claiming that McMahon had abused his power as CEO and made (h/t Post Wrestling) “invalid and inequitable bylaw requirements that would hamstring the board from making critical business decisions. It later adds that it could include, beyond Fellows, "thousands of WWE stockholders scattered throughout the United States.”
It goes on to add further claims of abusing his CEO power by sexually harassing women inside and outside of WWE, listing the recent Wall Street Journal 2022 allegations alongside Rita Chatterton's own 1992 accusation that McMahon raped her in a limousine in 1986.
It's the latest in a series of dramatic and chaotic behind-the-scenes events within WWE's ever changing boardroom. McMahon was reinstalled as Executive Chairman Of The Board of WWE following Stephanie McMahon's shock resignation as Chairwoman on January 10th. This itself occurred just days after McMahon was voted back onto the board after he engineered a return from his July 2022 retirement/resignation. There has since been rampant speculation that WWE is to be sold in the very near future, though all-but confirmed stories of a successful bid from Saudi Arabia's Public Investment Fund.
The full suit can be viewed here courtesy of Bloomberg Law.