As reported by PWMania.com, the trial regarding the lawsuit over the WWE/TKO merger has been removed from the court calendar just days before it was scheduled to start on Monday.
Brandon Thurston from WrestleNomics confirmed with Tamara Burton, the Court Administrator for the Delaware Court of Chancery, that the trial has been canceled. There is currently no information regarding the reason for this sudden cancellation, including whether a settlement is being negotiated.
The lawsuit was filed in November 2023 against former WWE Chairman Vince McMahon, WWE President Nick Khan, WWE Chief Content Officer Paul “Triple H” Levesque, and WWE executives George Barrios and Michelle Wilson. It alleged that the TKO merger resulted in damages to WWE shareholders by undervaluing the wrestling company.
Additionally, the lawsuit claimed that WWE’s investigation into McMahon regarding sexual misconduct allegations was a “sham” and that McMahon manipulated the sale process to benefit himself. The lawsuit argued that these actions ultimately breached the defendants’ fiduciary duty to the shareholders.
Prior to the trial, the plaintiffs submitted a pre-trial briefing on Friday, outlining their argument that WWE was undervalued in the TKO merger.
The plaintiffs cited an expert report by financial economist James L. Canessa, which estimated that the damages to shareholders ranged from $446 million to $949 million.
