Vince McMahon

The Number Of WWE Investigations Is Increasing

Former WWE CEO and Chairman Vince McMahon has been under investigation for supposedly spending over $14 million in hush money to cover up multiple counts of sexual misconduct, according to reports in recent weeks. McMahon has since temporarily decided to step down from the position in WWE before officially retiring last week.

This prompted Stephanie McMahon & WWE President Nick Khan to take over as co-CEOs of the WWE, with McMahon’s son-in-law and WWE Hall of Famer Triple H taking over creative control. Now it it seems that the WWE isn’t completely clear, as the company is still being investigated following some stock market problems. It was earlier reported this week that Glancy Prongay & Murray LLP, a national shareholder law firm, is investigating WWE on behalf of their stockholders for potential violations of securities law.

Just one day after the Wall Street Journal reported that McMahon had paid a former employee $3 million to keep quiet about a possible affair between them, WWE’s stock dropped 3.4 percent to $64.87 per share. After the Wall Street Journal disclosed that McMahon had paid more than $3 million, but more like $12 million, WWE’s stock dropped once more. This time, only 2% amounted to $63.76 per share. Many investors were harmed after WWE’s stock dropped more than 5%, prompting the investigation.

Vince McMahon’s retirement

As previously stated, the WWE intends to restate all of its financial statements dating back to 2019. During their investigation, the company allegedly discovered $14.6 million in recorded expenditures dating back to 2006, 16 years ago. All investigations into Vince McMahon’s claimed hush money payouts are still currently underway. Stay tuned for more information.

Liv Morgan, the SmackDown Women’s Champion, revealed how the WWE locker room has responded since Vince McMahon’s retirement. As previously stated, the former WWE CEO announced his departure on Friday, July 22nd, following alleged misconduct. There have been many backstage responses to Vince McMahon’s retirement and also his backstage behaviour since the news came.

Morgan revealed to the Mirror that everyone was surprised but excited to operate with Stephanie and Nick Khan. As previously stated, it was announced on Monday that Paul Levesque would take over all creative duties for WWE. We were all taken aback. And it was unexpected. But Vince is responsible for so much of our success. So if he thought it was time, it was time. We’re also looking forward to collaborating with Stephanie & Nick.

Sheena Bhandari is a Pro Wrestling Editor and enthusiast, working here at Clout News.