Kemo
07-15-2022, 06:08 PM
Last month, Vince McMahon stepped down as CEO and Chairman of WWE due to the ongoing investigation into alleged behavior.
The initial allegation was that McMahon arranged a $3 million ‘hush money’ payout to a female paralegal who it is reported he had an extra-marital affair with.
Since then, a second article from the Wall Street Journal alleges that McMahon has been inappropriate with several women over the years, paying approximately $12 million in NDAs.
The allegations against McMahon are very serious, and the ex-Chairman has vowed to respect the result of the investigation against him.
Writing in the Wrestling Observer Newsletter Dave Meltzer notes that WWE is in no hurry to get rid of the man who made the promotion a multi-billion dollar franchise.
“From the outside, you would read the article and think they have no choice but to make a change, but there is no indication at all that will happen. And there doesn’t appear to be any real pressure for it to happen.”
Vince McMahon is under investigation on behalf of WWE’s board of directors, but the board themselves are also under the microscope.
Several investigations have been made at WWE’s board, arguing that the company breached its fiduciary duties.
The argument is that WWE knew of the investigation into McMahon, but did not inform shareholders before the investigation was reported by the Wall Street Journal.
Investigators believe that shareholders should have been informed given that WWE stock took a fall after the McMahon article came out.
The initial allegation was that McMahon arranged a $3 million ‘hush money’ payout to a female paralegal who it is reported he had an extra-marital affair with.
Since then, a second article from the Wall Street Journal alleges that McMahon has been inappropriate with several women over the years, paying approximately $12 million in NDAs.
The allegations against McMahon are very serious, and the ex-Chairman has vowed to respect the result of the investigation against him.
Writing in the Wrestling Observer Newsletter Dave Meltzer notes that WWE is in no hurry to get rid of the man who made the promotion a multi-billion dollar franchise.
“From the outside, you would read the article and think they have no choice but to make a change, but there is no indication at all that will happen. And there doesn’t appear to be any real pressure for it to happen.”
Vince McMahon is under investigation on behalf of WWE’s board of directors, but the board themselves are also under the microscope.
Several investigations have been made at WWE’s board, arguing that the company breached its fiduciary duties.
The argument is that WWE knew of the investigation into McMahon, but did not inform shareholders before the investigation was reported by the Wall Street Journal.
Investigators believe that shareholders should have been informed given that WWE stock took a fall after the McMahon article came out.