List Of Every Law Firm Investigating WWE

2 months ago by Liam Winnard

List Of Every Law Firm Investigating WWE WWE

Here’s an ongoing list of every law firm that is investigating WWE off the back of the Vince McMahon allegations becoming public, which was first on June 15, 2022, with more emerging since then.

The WWE board, led by Man Jit Singh and in cooperation with Simpson Thacher & Bartlett LLP, has been investigating Vince McMahon and John Laurinaitis. McMahon announced his retirement from WWE on July 22.

However, several other law firms are conducting their own investigations of WWE and its higher-ups on behalf of shareholders and investors.

Here’s an updated list, correct as of July 26, along with links to their official releases outlining their investigations:

The list will be updated with any more law firms that declare they are investigating WWE.

In the latest update, the Wall Street Journal reported the following on July 25:

New federal investigations into the deepening hush-money scandal enveloping World Wrestling Entertainment Inc. hastened the retirement of its chief executive, Vince McMahon, according to people familiar with the matter.

The Securities and Exchange Commission and federal prosecutors have launched inquiries into payments made by Mr. McMahon to settle allegations of sexual misconduct, the people said. The media company said Monday that it has received “regulatory, investigative and enforcement inquiries, subpoenas or demands” in connection with millions of dollars in hush-money pacts.

This came hours after WWE issued the following statement:

The Company has made a preliminary determination that certain payments that Vince McMahon agreed to make during the period from 2006 through 2022 (including amounts paid and payable in the future), and that were not recorded in the WWE consolidated financial statements, should have been recorded as expenses in the quarters in which those agreements were made (the “Unrecorded Expenses”). As of the date hereof, the Company has identified Unrecorded Expenses totaling approximately $14.6 million. All payments underlying the Unrecorded Expenses were or will be paid by Vince McMahon personally. While the Company continues to evaluate the impact on previously reported financial statements, the Company has preliminarily determined that, while the amount of Unrecorded Expenses was not material in any individual period in which the Unrecorded Expenses arose, the aggregate amount of Unrecorded Expenses would be material if recorded entirely in the second quarter of 2022. Accordingly, the Company currently anticipates that it will revise its previously issued financial statements to record the Unrecorded Expenses in the applicable periods for the years ended December 31, 2019, 2020 and 2021, as well as the first quarter of 2022, when it issues its financial statements for the second quarter of 2022. The Company is working with the goal of issuing such financial statements by August 9, 2022, but there is no assurance that it will be able to meet this deadline. In light of the Unrecorded Expenses and related facts, the Company expects to conclude that its internal control over financial reporting was not effective as a result of one or more material weaknesses. The Company continues to evaluate the appropriate accounting treatment for the Unrecorded Expenses, as well as its internal control over financial reporting, and its ultimate conclusions on these topics may differ from what the Company currently anticipates.

As previously announced, a special committee of independent members of the Board is conducting an investigation into alleged misconduct by Vince McMahon, which investigation remains ongoing.

The Company has also received, and may receive in the future, regulatory, investigative and enforcement inquiries, subpoenas or demands arising from, related to, or in connection with these matters.

All previous and future updates on this story can be found at this link


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