Additional Details On WWE Shareholders Lawsuit As Case Gets Set For Trial

Dave Meltzer of the Wrestling Observer Newsletter has provided additional details ahead of the WWE shareholder lawsuit trial on Monday, June 8. To summarize, the shareholders in this lawsuit are suing former WWE Chairman and CEO Vince McMahon over the sale, alleging that he engineered a plan with now-TKO (WWE's parent company) CEO Ari Emanuel and Endeavor, to stay on board, though there were sexual misconduct allegations made against him. 

According to the veteran reporter, the plaintiffs in this case are asking for $466 million to $957 million, plus interest accrued since the merger closed nearly three years ago, in damages. These  figures come from a 200-plus page report from their expert witness, James L. Canessa. On the other side of the court, the defendants are arguing that no damages to shareholders have come from the nature of the sale.

As reported previously, the trial will include testimony from  McMahon, WWE President Nick Khan, Chief Content Officer Paul "Triple H" Levesque, George Barrios, Michelle Wilson, Emanuel, President and Chief Operating Officer of TKO Mark Shapiro, and others not listed at this time. It's worth noting that McMahon, Khan, Levesque, Barrios, and Wilson are listed as defendants in the case. But Emanuel and Shapiro are not.

This will not be a jury trial. Judge Travis Laster will make the ultimate verdict of this case after the conclusion of this trial, which could take months. If the judge were to award any monetary damages, that would be split between those who held WWE stock at the time of the sale. The trial will be held for four days, beginning on Monday at the Delaware Court of Chancery. It will conclude on Friday, though everyone will have Thursday off.