WWE Facing Class Action Lawsuit Over Stock Value

That’s never a good thing. Whether you like them or not, WWE is the biggest and most financially successful wrestling company the industry has ever seen. They can do almost anything they want because of the amount of money that they have, but that does not make them invincible. Occasionally they will have some setbacks, and one of them might come from an important group of people.

WWE’s stock has taken some major hits over the last few weeks and the general state of the stock market has made things even worse. The company has lost a ton of money in recent weeks and there is no indication that they are going to be able to turn it around in a hurry. Some people are not happy with the situation and as is so often the case, that means legal action.

According to Businesswire.com, the California law firm of Robbins, Geller, Rudman and Dowd LLP have filed a class action lawsuit against WWE on behalf of stockholders who purchased stock from February 7, 2019 – February 5, 2020. The basis of the lawsuit is over a breakdown between WWE and the Saudi Arabian government and a lack of payments to WWE, causing the stock value to drop. There is no word on when the case could come before a judge or WWE’s response to the case.

They don’t seem happy about their money. Check out some of the worse money situations in WWE history:

Opinion: I’m not sure what to think of this but suing a company over the stock value dropping when it was so high at the start of the period in question seems a bit odd. The old expression is “buy low, sell high”, but the lawsuit is over a bunch of people who bought high. I have no idea how this is going to go, though there is a chance that it could go badly for WWE. Maybe it goes nowhere though, and that would certainly be best for WWE.

What would make WWE’s stock value go back up? What do you think will happen on the next financial report? 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. Get the latest and greatest in professional wrestling news by signing up for our daily email newsletter. Just look below for “GET EXCLUSIVE UPDATES” to sign up. Thank you for reading!