NEW YORK, June 27, 2022 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of World Wrestling Entertainment, Inc. ("WWE" or the "Company") (NYSE: WWE). Such investors are advised to contact Robert S. Willoughby at rswilloughby@pomlaw.com or 888-476-6529, ext. 9980.
The investigation concerns whether WWE and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On June 17, 2022, WWE announced that its Chairman and Chief Executive Officer ("CEO") Vincent McMahon would be stepping down from those roles, with his daughter Stephanie returning to the company as interim Chief Executive Officer amid an ongoing investigation into an alleged secret hush deal with a former employee. WWE stated that it had formed a special committee to investigate the alleged improper behavior of CEO McMahon and John Laurinaitis, head of talent relations, who reportedly had relationships with a former employee and allegedly paid her a secret $3M settlement.
On this news, WWE's stock price fell $2.36 per share, or 3.64%, to close at $62.51 per share on June 17, 2022.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com
CONTACT:
Robert S. Willoughby
Pomerantz LLP
rswilloughby@pomlaw.com
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SOURCE Pomerantz LLP
