Yet Another Law Firm Investigating WWE

In the manner of a small drop of rain becoming part of a vast ocean, another law firm has joined the sea of investigations into WWE's handling of fiduciary responsibilities to investors in the wake of a report that the WWE board of directors is investigating WWE Chairman & CEO Vince McMahon.

Pomerantz Law Firm is the 8th law firm currently investigating WWE. All of the investigations share a similar thread, through some have more qualifications than others — that thread being that the bombshell report from the Wall Street Journal released earlier this month, detailing a mountain of hush money payments between Vince McMahon and former female employees alleging misconduct, has affected WWE's stock price. The various law firms are now looking into whether WWE was complicit in securities fraud or any other unlawful business practices.

WWE's board of directors began investigating Vince McMahon in April after the revelation of a $3 million non-disclosure agreement between McMahon and a former WWE paralegal with whom McMahon allegedly had a relationship. This investigation uncovered numerous other NDAs between McMahon and former female employees, alleging misconduct against McMahon, as well as former WWE Head of Talent Relations John Laurinaitis. According to the Wall Street Journal report, McMahon used personal finances for the NDAs.

McMahon has since stepped down from his corporate duties, while retaining creative control over the company. Stephanie McMahon, who had recently announced she was taking time away from the company in the midst of the investigation, has since stepped in as Interim Chairwoman & CEO. Laurinaitis has been placed on administrative leave, with Bruce Prichard taking over his duties.

Despite the investigations, McMahon has recently been appearing on WWE programming far more frequently that he had before. None of the investigations have been classified as a "class" yet and are not consider class action lawsuits, merely the exploratory process for them.

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