WWE Directors And Officers Under Investigation For Fiduciary Duties Breach

Brandon June 17, 2022
Updated 2022/06/17 at 4:24 PM
Photo Credit: WWE

Just when you thought it had already been a week never to forget for WWE, another report has been published by Business Wire disclosing more turbulence behind the scenes in the company.

The report states that Scott+Scott Attorney’s at Law LLP “is investigating whether certain directors and officers of World Wrestling Entertainment, Inc. breached their fiduciary duties to WWE and its shareholders.” The law firm is investigating whether members of WWE’s board and senior management “failed to manage WWE in an acceptable manner, in breach of their fiduciary duties to WWE, and whether WWE and its shareholders have suffered damages as a result.”

While no names have been specifically mentioned, it is more damning evidence against the company, that is currently trying to save face after long-time Chairman & CEO, Vince McMahon, was said to have paid a former employee $3 million dollars as a settlement over an alleged affair. In addition, the WWE Board has also alleged to have uncovered a number of NDAs in relation to McMahon’s actions and behavior. The Wall Street Journal report, which first released the details about McMahon, also noted that Head of Talent Relations in WWE, John Laurinaitis, also played a role in McMahon’s alleged wrongdoings.

Earlier today, it was confirmed that McMahon has temporarily stepped down as Chairman & CEO of the organization, with his daughter, Stephanie McMahon, taking up the reigns until the investigation has concluded. Stephanie recently stepped away from the company to take a leave of absence, but will now return to lead WWE through this uncertain period.

Not one to shy away from the spotlight when the going gets tough, McMahon himself will appear on tonight’s episode of “SmackDown” on FOX. Details are limited at the moment on whether he will appear in front of the live audience or not.

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