WWE Reaches Multimillion Dollar Settlement In Saudi Arabia Lawsuit

That should make some people happy. WWE is one of the few truly global wrestling promotions and that is going to put them in a lot of different places around the world. You don’t get to see something like that very often but WWE knows how to spread itself around rather well. Not everyone is thrilled with everything that they do though and WWE has had to pay to get out of a bit of trouble.

Over the last few years, WWE has held several events in the Kingdom of Saudi Arabia, which have been controversial to say the last. The country does not have the best human rights record and then things got even worse over the murder of Jamal Khashoggi. Several wrestlers boycotted the shows and others with an interest in the company were not happy with several details. WWE had to take care of those people and that is what they have now done.

WWE has announced, by way of PWInsider.com, that they have settled a class action lawsuit against the company over allegations of misleading information over their relationship with Saudi Arabia. The lawsuit, filed in March, alleged that WWE misled investors about a deal with Middle Eastern TV (which has still not been completed), thereby driving up the stock price and allowing WWE executives to sell $280 million in stock. WWE settled for $39 million but did not admit any liability in the case.

The situation was kind of a mess. Check out some of WWE’s less serious legal issues over the years:

Opinion: This is the kind of thing that makes sense for WWE, as cutting a big check and putting everything behind them is probably the best thing they could have done. WWE has a lot of money and the plaintiffs seem to want to get paid. There’s nothing wrong with that in something like this and if WWE can reach into their wallet and make this go away, it makes a lot of sense for them.

What do you think of the move? When will WWE be back in Saudi Arabia? 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!