The lawsuit over NWA's alleged insurance fraud under Bob Trobich has been settled. The suit was settled this week and as a result the NWA name as well as intellectual property has been transferred from Trobich's Pro Wrestling Organization, LLC to a new corporation headed by former Championship Wrestling from Florida ring announcer and Brownsville, Texas attorney Bruce Tharpe. Trobich resigned as head of the company as a result of the suit.
The lawsuit claimed that Trobich was committing insurance fraud by having insurance for shows that would draw 100 fans or less when many shows drew much more than that number. Tharpe said that the company was able to get new members by promising that their house shows would be insured if they joined.
At this point, Trobich appears to be the major player who will leave, as the rest of the board will be staying on with the new company.