WWE Settles Class Action Lawsuit For $39 MILLION
2020 has been an annoying year, and now WWE has had to stump up $39 million...
PWInsider Elite is reporting that WWE has settled a $39 million lawsuit filed over its relationship with Saudi Arabia.
The suit was filed by the City of Warren Police and Fire Retirement System, which alleged that the company made "false and misleading statements regarding their relationship with the Kingdom of Saudi Arabia". WWE's whopping $39 million pay out includes the plaintiff's attorneys' fees and their expenses, as well as settlement costs.
This is subject to court approval, but PWInsider did also say that WWE's insurance carriers are expected to foot the bill.
In an official statement on the matter, WWE said, "The Company believes that resolving the matter is the right business decision and that it is prudent to end the protracted and uncertain class action process.".
WWE last visited Saudi Arabia for Super ShowDown this past February 2020. They would've produced at least one more stadium event in the country had a global pandemic not hit in March. Now, who knows what the promotion's future in Saudi holds?
$39 million is clearly a lot of cash, and this sorry legal episode probably won't sit well with Vince McMahon.