The ongoing WWE shareholder lawsuit continues to escalate as the plaintiffs have taken new legal steps in their effort to compel Vince McMahon to comply with court-ordered discovery. Motions were filed earlier this week in the Delaware Court of Chancery requesting that McMahon be ordered to release specific documents tied to the case.
Brandon Thurston of Wrestle Nomics reported, âVince McMahon appears to be resisting or delaying full compliance with discovery in the ongoing WWE shareholder lawsuit filed last year over the TKO merger.â
The lawsuit was initially filed in November 2023 by the Laborersâ District Council and Contractorsâ Pension Fund of Ohio, acting on behalf of a broader group of WWE shareholders. The plaintiffs argue that McMahon manipulated the merger process between WWE and UFC parent company Endeavor for personal gain.
According to the filings, the case is currently in the discovery phase. The court has issued a deadline of May 14 for McMahon to respond to the motion. If no response is submitted by that date, the court may grant the plaintiffsâ requests by default.
In their allegations, the plaintiffs claim that McMahon orchestrated a âquick saleâ to Endeavor CEO Ari Emanuel, who is referred to in the legal documents as McMahonâs âclose friend and longtime ally.â They further allege that the deal McMahon accepted was a âsweetheart dealâ designed to secure his position as executive chairman of TKO Group Holdings, a move they say was intended to shield him from heightened scrutiny following allegations of sexual misconduct.
Additionally, the suit claims that WWE board members staged a âsham sales processâ which heavily favored Endeavor and deliberately excluded at least two competing all-cash offers. These offers, the plaintiffs contend, provided better terms but would have resulted in McMahon being removed from power.
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