LionDen
08-02-2023, 10:00 PM
https://i.imgur.com/N8s4EuS.jpg
Vince McMahon issued the following statement to CNBC:
“In 2022, WWE formed a special committee to review allegations of misconduct against me. That review was concluded in November 2022 following an extensive investigation. Throughout this experience, I have always denied any intentional wrongdoing and continue to do so. I am confident that the government’s investigation will be resolved without any findings of wrongdoing. I am focused on completing the recovery process from my recent spinal surgery and on closing our transaction with Endeavor, which will create one of the preeminent global sports and entertainment brands.”
Vince McMahon, World Wrestling Entertainment Inc.’s executive chairman, was served with a federal search warrant and grand jury subpoena related to allegations that he paid millions of dollars to settle sexual misconduct claims.
The company disclosed the legal moves, which happened on July 17, in a regulatory filing Wednesday. They mark an escalation of the investigation into McMahon, who left the company last year. He returned to WWE in January.
The company completed its own probe of McMahon’s conduct late last year, but related government investigations are ongoing. WWE said it received demands for documents, including from federal law enforcement and regulatory agencies and is cooperating.
No charges have been brought, the company said.
WWE also said that on July 21 McMahon went on medical leave related to major spinal surgery.
“Throughout this experience, I have always denied any intentional wrongdoing and continue to do so,” McMahon said in an emailed statement sent by the company. “I am confident that the government’s investigation will be resolved without any findings of wrongdoing.”
In early April, WWE announced plans to combine with Endeavor Group Holdings Inc.’s mixed martial arts league, Ultimate Fighting Championship. The company said Wednesday it expects the deal to close later this year.
McMahon, 77, owns 92% of WWE’s Class B supervoting shares, according to an April filing. They have 10 votes each.
Shares of WWE were little changed at $103.51 in New York trading. The stock is up more than 50% this year.
Vince McMahon issued the following statement to CNBC:
“In 2022, WWE formed a special committee to review allegations of misconduct against me. That review was concluded in November 2022 following an extensive investigation. Throughout this experience, I have always denied any intentional wrongdoing and continue to do so. I am confident that the government’s investigation will be resolved without any findings of wrongdoing. I am focused on completing the recovery process from my recent spinal surgery and on closing our transaction with Endeavor, which will create one of the preeminent global sports and entertainment brands.”
Vince McMahon, World Wrestling Entertainment Inc.’s executive chairman, was served with a federal search warrant and grand jury subpoena related to allegations that he paid millions of dollars to settle sexual misconduct claims.
The company disclosed the legal moves, which happened on July 17, in a regulatory filing Wednesday. They mark an escalation of the investigation into McMahon, who left the company last year. He returned to WWE in January.
The company completed its own probe of McMahon’s conduct late last year, but related government investigations are ongoing. WWE said it received demands for documents, including from federal law enforcement and regulatory agencies and is cooperating.
No charges have been brought, the company said.
WWE also said that on July 21 McMahon went on medical leave related to major spinal surgery.
“Throughout this experience, I have always denied any intentional wrongdoing and continue to do so,” McMahon said in an emailed statement sent by the company. “I am confident that the government’s investigation will be resolved without any findings of wrongdoing.”
In early April, WWE announced plans to combine with Endeavor Group Holdings Inc.’s mixed martial arts league, Ultimate Fighting Championship. The company said Wednesday it expects the deal to close later this year.
McMahon, 77, owns 92% of WWE’s Class B supervoting shares, according to an April filing. They have 10 votes each.
Shares of WWE were little changed at $103.51 in New York trading. The stock is up more than 50% this year.