WWE's Shane McMahon Named In New Lawsuit
Shane-O-Mac named amongst those in new lawsuit against Ideanomics.
Fresh off his return to WWE TV to head up WWE Underground, Shane McMahon has now been named in a new lawsuit.
Said lawsuit is being made against Ideanomics, where Shane-O-Mac serves as Vince Chairman of the Board. The company deals in commercial electric vehicles and next financial services.
A new shareholders lawsuit includes Shane and several members of the Ideanomics executive board in a claim accusing them of “breaches of their fiduciary duties, unjust enrichment, abuse of control, gross mismanagement, waste of corporate assets” and violation of certain other regulations.
While the lawsuit itself is a massive document, one notable element is that McMahon loaned the company $3 million at one point in time. As of November 2019, Shane also owned $2.1 million worth of company in stock.
All of this was first reported on by HeelByNature, and it remains to be seen just how all of this will play out for Shane McMahon and his Ideanomics cohorts.
In a WWE sense, Shane returned to TV this past Monday to introduce a new underground fighting league which most certainly raised eyebrows.