Fade
Patti Mayonnaise
Posts: 38,294
|
Post by Fade on Apr 13, 2020 16:41:31 GMT -5
He was never lying about them being the size of grapefruits, that’s for sure.
|
|
|
Post by KofiMania on Apr 13, 2020 16:50:27 GMT -5
Even if Vince didn't legally do anything wrong, he definitely lied and misled people. What did he lie about if the May 2018 SEC filing that’s issued to and presumably read by shareholders states that WWE sold it’s XFL IP for a minority stake in the XFL?
|
|
cjh
Hank Scorpio
Posts: 6,607
|
Post by cjh on Apr 13, 2020 16:52:30 GMT -5
|
|
|
Post by TOK Hehe'd Around & Found Out on Apr 13, 2020 18:13:00 GMT -5
I'm not a lawyer, but this could be a major issue if there's financial cuts made in the near future. The FEC went after Elon Musk for similar shenanigans involving Tesla and Solar City
|
|
|
Post by Magic knows Black Lives Matter on Apr 13, 2020 18:16:46 GMT -5
He was never lying about them being the size of grapefruits, that’s for sure. For real, dude ain't dumb. He just for real that reckless and not giving a f***, hahaha. Vince really think he's the last of a dying breed of outlaws or some shit
|
|
|
Post by Feyrhausen on Apr 13, 2020 18:23:58 GMT -5
I'm not a lawyer, but this could be a major issue if there's financial cuts made in the near future. The FEC went after Elon Musk for similar shenanigans involving Tesla and Solar City I honestly dont see how. How it seems to me is that WWE was given stock in the new XFL in exchange for the name and trademarks for the old XFL. A name and trademarks that were really mostly worthless for WWE to own. So now they were a minority non voting investor in the new XFL. If it made money then WWE came out ahead on the deal. If it lost money or went bankrupt all WWE lost was some worthless trademarks. And it looks like WWE was upfront on this deal. So really nothing worth caring about. Now if WWE was channeling money to or having its employees do work for the XFL then they are screwed.
|
|
|
Post by floundertime on Apr 13, 2020 18:26:32 GMT -5
I'm not a lawyer, but this could be a major issue if there's financial cuts made in the near future. The FEC went after Elon Musk for similar shenanigans involving Tesla and Solar City But right now any financial cuts, while xfl related, could easily be blamed on the economy right now. Would be tough to prove
|
|
Deleted
Deleted Member
Posts: 0
|
Post by Deleted on Apr 13, 2020 18:28:10 GMT -5
I'm not a lawyer, but this could be a major issue if there's financial cuts made in the near future. The FEC went after Elon Musk for similar shenanigans involving Tesla and Solar City But right now any financial cuts, while xfl related, could easily be blamed on the economy right now. Would be tough to prove It's called a perfect crime, pal!
|
|
|
Post by Alice Syndrome on Apr 13, 2020 18:28:16 GMT -5
The lawsuit over this was dismissed with prejudice on March 10, meaning it can't be re-filed later. Looking it up, Class B stock has much less voting rights than Class A and is usually owned by those in management. There’s almost certainly going to be a class action now. Just that one guy can’t refile...and honestly he might end up being able to since this will constitute “newly discovered evidence” and many jurisdictions have rules that allow for refiling of civil cases when that happens. I'm no legal expert, but "the defendant straight up lied about it" is probably legal grounds for the prejudice being overturned 😂
|
|
|
Post by The Summer of Muskrat XVII on Apr 13, 2020 18:50:57 GMT -5
There’s almost certainly going to be a class action now. Just that one guy can’t refile...and honestly he might end up being able to since this will constitute “newly discovered evidence” and many jurisdictions have rules that allow for refiling of civil cases when that happens. I'm no legal expert, but "the defendant straight up lied about it" is probably legal grounds for the prejudice being overturned 😂 It seems like everything that “came out” today with the bankruptcy filing was already publicly disclosed and was actually mentioned in the lawsuit. One of the points of contention in the lawsuit was ensuring WWE had been compensated fair market value for the trademarks and for work contracted to WWE, which was believed to be promotional video production.
|
|
Deleted
Deleted Member
Posts: 0
|
Post by Deleted on Apr 13, 2020 20:29:08 GMT -5
If it genuinely is just the minority equity interest and the companies were truly operated independently of one another, there won't be an issue. But it seems like that's probably not the case. I guess it is irresponsible to jump to conclusions, but this just feels like it's going to be a tough one for Vince to skate through when he'd been taking heat form shareholders for the relationship with the XFL pretty much from its inception anyway. Why does it seem like “that’s not the case” when the filing shows 23% interest in Class B stock? Wouldn’t that be a minority equity interest? Seems much ado about nothing. Because the WWE constantly assured shareholders that there were no financial ties to the XFL, and these are decidedly financial ties. At the very least the relationship was downplayed in my mind.
|
|
|
Post by TOK Hehe'd Around & Found Out on Apr 13, 2020 20:35:54 GMT -5
Even if Vince didn't legally do anything wrong, he definitely lied and misled people. What did he lie about if the May 2018 SEC filing that’s issued to and presumably read by shareholders states that WWE sold it’s XFL IP for a minority stake in the XFL? Because it's quite obviously Vince self-dealing, using the publicly traded company that he controls as an avenue for unrelated personal gain. That's not legal, but the FEC is currently worthless as an institution so he's in the clear.
|
|
|
Post by ChitownKnight on Apr 13, 2020 20:57:53 GMT -5
Anyone else find it hilarious that Vince has a company called Alpha Entertainment
|
|
Deleted
Deleted Member
Posts: 0
|
Post by Deleted on Apr 13, 2020 22:27:38 GMT -5
People should really read the entire thread before rushing to make the same "Vince lied to the shareholders!" points over and over again.
|
|
|
Post by Aceorton on Apr 13, 2020 22:40:16 GMT -5
Anyone else find it hilarious that Vince has a company called Alpha Entertainment Was thinking the same thing. It's like he was posing in the bathroom mirror when he came up with it.
|
|
|
Post by "Cane Dewey" Johnson on Apr 13, 2020 23:01:11 GMT -5
Anyone else find it hilarious that Vince has a company called Alpha Entertainment Vince McMahon is so insecure about being perceived as alpha that he comes off beta.
|
|
|
Post by TOK Hehe'd Around & Found Out on Apr 13, 2020 23:23:17 GMT -5
People should really read the entire thread before rushing to make the same "Vince lied to the shareholders!" points over and over again. "I gave them equity stake in my start-up!" isn't a legitimate defense for donating a valuable intellectual property to a company that the CEO owns
|
|
Fade
Patti Mayonnaise
Posts: 38,294
|
Post by Fade on Apr 13, 2020 23:35:40 GMT -5
Anyone else find it hilarious that Vince has a company called Alpha Entertainment Was thinking the same thing. It's like he was posing in the bathroom mirror when he came up with it.
|
|
|
Post by Brian Suntan on Apr 14, 2020 0:00:24 GMT -5
People should really read the entire thread before rushing to make the same "Vince lied to the shareholders!" points over and over again. "I gave them equity stake in my start-up!" isn't a legitimate defense for donating a valuable intellectual property to a company that the CEO owns I mean... evidently it is.
|
|
Deleted
Deleted Member
Posts: 0
|
Post by Deleted on Apr 14, 2020 0:05:36 GMT -5
People should really read the entire thread before rushing to make the same "Vince lied to the shareholders!" points over and over again. "I gave them equity stake in my start-up!" isn't a legitimate defense for donating a valuable intellectual property to a company that the CEO owns They notified shareholders of WWE's involvement when the league formed and informed Shareholders multiple times afterward, as noted in this thread.
|
|