More legal firms have launched investigations into WWE’s business practices following allegations of an affair and hush-money payment arranged by Vince McMahon.
McMahon is alleged to have had an affair with a female paralegal who left WWE this year and reportedly arranged a $3 million payout as part of a non-disclosure agreement.
Pomerantz Law Firm and Moore Kuehn, PLLC are the latest to start an investigation, believing that WWE withholding information from their investors cost them.
WWE did not disclose to investors that McMahon was being investigated until the Wall Street Journal article, at which point WWE stock dropped significantly.
In addition to these two, five other firms
have launched investigations into WWE, bringing the total number to seven.McMahon has stepped down as WWE CEO and Chairman, with his daughter Stephanie serving in those roles in an interim capacity.