WWE Directors & Officers Under Investigation For Breach Of Fiduciary Duties

Another investigation affecting WWE

The national securities and consumer rights litigation organisation Scott+Scott Attorneys at Law LLP have announced they are investigating if WWE directors and officers "breached their fiduciary duties to WWE and its shareholders" and whether the company and its shareholders have suffered damages because of a possible breach. 

The investigation comes after a Wall Street Journal report noted WWE's board are investigating a $3 million hush payment Vince McMahon made to a former employee with whom he had an alleged sexual relationship. The settlement arranged in January 2022 prevents the former employee from speaking about the alleged relationship with the 76-year-old and from disparaging the WWE Chairman.

press release from Scott+Scott stated, in part: "Scott+Scott is investigating whether members of WWE's board of directors or 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."

WWE shareholders have been encouraged to discuss the investigation with one of the law firm's attorneys. 

About fiduciary duties, Cornell Law School states: "When someone has a fiduciary duty to someone else, the person with the duty must act in a way that will benefit someone else, usually financially. The person who has a fiduciary duty is called the fiduciary, and the person to whom the duty is owed is called the principal or the beneficiary. If the fiduciary breaches the fiduciary duties, he or she would need to account for the ill-gotten profit. The beneficiaries are typically entitled to damages."

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Aidan Gibbons

Written by Aidan Gibbons

Journalist/Editor-in-Chief of Cultaholic.com Twitter: @theaidangibbons