Fightful: WWE executives sued in reference to stock sales

[kingoftheindies]

www.fightful.com/wrestling/vince-mcmahon-and-wwe-sued-selling-stock-while-failing-disclose-collapse-middle-east-deals?utm_source=TW-Fightful&utm_medium=Fightful%20Wrestling%20News&utm_campaign=dlvr.it

Didn't see this posted and apologies if it had been but thought worth discussing. Vince, Stephen, Triple H and other executives are getting sued for more than $300 million worth of stock at inflated prices while keeping the public in the dark about the collapse of key Middle East broadcasting deals.

Not a lot is likely to come of it but figured backlash for the Saudi deals would eventually come

[Wieners=$$$]

Crown Jewel: Backlash

[Deleted]

Uh oh... Should I be getting rid of my WWE stock?!

[Final Countdown Jones]

Unlikely to go anywhere but potentially very sleazy if the timeline lines up

[The Rick Jericho]

This is probably why they brought in Khan.

Khan and McDevitt vs. The World.

[polarbearpete]

This sounds identical to a prior lawsuit they settled last year.

[Andee9001]

So this is just the tv deal and not the agreement with the Saudi Arabian government?

I would imagine the deal being at least put on hold due to travel limitations but has it been outright cancelled?

[Captain Stud Muffin (BLM)]

Doubt it goes anywhere cause if it does a lot of people on the stock market over the last year got shit to answer for

[Perd]

Whenever stuff like this pops up, I assume two things:

1. They’re totally guilty.

2. They totally won’t get in trouble.

[A Platypus Rave]

Jun 16, 2021 21:14:59 GMT -5 polarbearpete said:

This sounds identical to a prior lawsuit they settled last year.

Yeah, I remember there being some lawsuit last year and thought this was the same thing...

I didn't remember if they settled or what... but yeah.

[Xxcjb01xX [PIECE OF: SH-]]

They should have asked Cameron Grimes for advice when it came to Stocks damn it!

[nisidhe]

Jun 16, 2021 23:45:26 GMT -5 Perd said:

Whenever stuff like this pops up, I assume two things:

1. They’re totally guilty.

2. They totally won’t get in trouble.

This is the sort of shit for which people do time. Martha Stewart did five months inside for insider trading for making far less on her insider trading than the McMahons are accused of making on theirs.

[kingoftheindies]

Jun 16, 2021 23:49:01 GMT -5 A Platypus Rave said:

Jun 16, 2021 21:14:59 GMT -5 polarbearpete said:

This sounds identical to a prior lawsuit they settled last year.

Yeah, I remember there being some lawsuit last year and thought this was the same thing...

I didn't remember if they settled or what... but yeah.

They mentioned it in the article that that one settled.

This one from my understanding is more or less accusing the WWE execs of insider trading.

So yeah likely just another settlement

[Ryushinku]

Jun 16, 2021 23:45:26 GMT -5 Perd said:

Whenever stuff like this pops up, I assume two things:

1. They’re totally guilty.

2. They totally won’t get in trouble.

Yup. And usually:

3. There will be a settlement, or it'll get tossed.

Makes me feel like a jaded old cynic, but, this is a depressingly familiar song. Not just in WWE, either.

[FinalGwen]

"I am shocked, shocked to discover that there's unethical profiteering being done over the Saudi Arabia deals."
"Your winnings, sir."