On January 26, another shareholder asserted a claim against Vince McMahon as the litigation against him goes on. Dennis Palkin, an investor, wants to know more about the “horrifying charges” that have been made against McMahon and wants to have him removed from the WWE Board of Directors.
According to reports, the investigation into claims that McMahon “raped and sexually assaulted contractors and staff over the course of decades” has asked WWE for documents related to the lawsuit. The investigation estimates that nearly $15 million was spent on hush payments to hide his activities.
The complaint filed in Delaware’s Chancery Court on Tuesday was made public and states that “there are major doubts” regarding how Vince McMahon got those cash and distributed them to his victims. The investor also thinks that McMahon basically pulled out a coup by rejoining the WWE Board and that the circumstances surrounding his return showed “a brazen contempt for basic corporate governance principles.”
McMahon has been the target of a long string of allegations
“Does he believe that he is exempt from the laws? Vince McMahon reinstated himself and two of his longstanding friends while removing three independent directors “The lawsuit says. The apparent wrongdoing, in this case, is both widespread and serious. This case stands out because it will be the first to use Delaware state legislation that grants corporate investors extensive inspection rights to acquire information from WWE.
But since the summer of 2022, McMahon has been the target of a long string of allegations, of which this is merely the most recent. He made his WWE retirement official in July of last year. However, that didn’t last long because, by the beginning of January, he had reinstituted himself onto the board with the intention of pursuing a sale of the business.
Vince McMahon has already broken his promise to refrain from getting involved in anything besides the sale of WWE. The reports state that he has already returned to his office and is making changes. Additionally, he has rehired some former employees, including Brad Blum, his chief of staff. In a meeting, it was reportedly announced to the WWE staff that everything would proceed as usual.
