Back on April 24th of 2020, WWE got snagged with a lawsuit as shareholders Ryan Merholz and Melvyn Klein filed a lawsuit against World Wrestling Entertainment, Vince McMahon, Stephanie McMahon, Paul Levesque, Frank Riddick III, Stuart Goldfarb, Laureen Ong, Robyn Peterson, Man Jit Singh, Jeffery Speed, Alan Wexler, and George Barrios.

The lawsuit alleges that top executives acted without the best interest of shareholders in mind. You can read WWE's announcement of the preliminary court approval of their proposed settlement here:

STAMFORD, Conn.--(BUSINESS WIRE)-- World Wrestling Entertainment, Inc. (NYSE: WWE) The proposed settlement of certain shareholder derivative and other actions, previously disclosed by the Company’s Current Report on Form 8-K, filed August 17, 2021, has received preliminary court approval. The proposed settlement includes no financial obligation on the part of the Company. The attached summary notice constitutes a required notice of the proposed settlement.

Merholz and Klein state in the suit's filing that WWE wasted corporate assets, made false statements, failed to disclose adverse facts, misled the investing public, permitted senior executives of WWE to sell more than $282 million worth of their personally held shares of Company stock at inflated prices and more.