According to a previous report by PWMania.com, the trial concerning the lawsuit filed on behalf of WWE shareholders was scheduled to begin on Monday in the Delaware Chancery Court. However, it appears that this is no longer the case.
Bloomberg Law reported that an attorney representing the shareholders announced on Friday afternoon that the trial, scheduled to last 4 days, is no longer on the court’s schedule. The reason for its removal has not yet been disclosed, and the attorney, Greg Varallo, declined to provide further details.
The trial was expected to feature testimony from several WWE executives, including former WWE Chairman Vince McMahon, WWE President Nick Khan, WWE Chief Content Officer Paul “Triple H” Levesque, and others. An expert report presented by the plaintiffs estimated that damages to shareholders could range from $446 million to $949 million.
The lawsuit, filed in November 2023 against McMahon, Khan, Triple H, George Barrios, and Michelle Wilson, alleges that the TKO merger caused financial losses for WWE shareholders by undervaluing the wrestling promotion. It alleges that WWE’s investigation into McMahon regarding sexual misconduct allegations was a “sham” and that McMahon manipulated the sale process to favor himself. The lawsuit asserts that this conduct ultimately breached the defendants’ fiduciary duty to the shareholders.
At this time, there has been no announcement regarding whether a settlement has been reached, if the trial has simply been delayed, or if there is another reason for its removal. Updates will be provided as more information becomes available.
