The boss is in trouble. WWE is a lot of things, but ultimately it is a business. As a result, the company needs to find out how to make the most money possible to please its stockholders. It can be a heck of a balance to figure out as one wrong move can cause a big problem. That seems to be the case again, as some high level WWE names are facing some legal issues over business moves.
According to Fightful, a lawsuit has been filed against the McMahon Family, Triple H and former WWE Presidents George Barrios and Michelle Wilson over selling $300 million of stock. The lawsuits says that the stock was sold while WWE was publicly saying that a new Middle Eastern television deal on the Orvit Showcase Network in Riyadh, Saudi Arabia was coming soon.
However the network had moved out of sports broadcasting and WWE misled investors about finding a replacement. The news of the lack of a deal caused WWE stock to drop nearly 30%, with the defendants selling their stock before the news broke. There is no word on when the lawsuit could go to trial, assuming a settlement is not reached before then.
WWE has had some lawsuits before. Check out a few in the company’s history:
Opinion: I don’t have much of a legal background but this does not sound like the most legal or ethical move. At the same time, it seems like something that can be solved with a rather large check and WWE has the money to be able to pay for it. That will not be the easiest thing in the world, but it could be interesting to see where this goes in the near and farther future.
What does this mean for WWE? Will it cause them a major problem? Let us know in the comments below.
Thomas Hall has been a wrestling fan for over thirty years and has seen over 50,000 wrestling matches. He has also been a wrestling reviewer since 2009 with over 5,000 full shows covered. You can find his work at kbwrestlingreviews.com, or check out his- Amazon author page with 30 wrestling books.
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