Vince McMahon Facing Lawsuit After WWE Return

Vince McMahon made headlines last year after he was involved in a hush-money scandal, and the pro wrestling world simply waited with bated breath for what came next. After several months, Vince McMahon finally came back to WWE because he is the majority shareholder and made sure to use that to his advantage. In fact, McMahon is now facing a lawsuit following his WWE return.

Vince McMahon was officially reinstated to the Board Of Directors. With him, he brought back former WWE presidents, Michelle Wilson and George Barrios. McMahon removed JoEllen Lyons Dillon, Jeffrey R Speed, and Alan M Wexler from their positions.

Last night, Vince McMahon regained control of the company’s Board of Directors as the Executive Chairman of WWE after Stephanie McMahon’s resignation. Unsurprisingly, the pro wrestling world simply could not believe this happened.

According to Bloomberg Law, Vince McMahon is now facing investor litigation over claims that he pushed aside the board to illegally install himself as Chairman. A shareholder sued McMahon in Delaware’s Chancery Court, where he accused McMahon of using his 81% voting control to remove three board members, replace them with loyalists, and push through bylaw changes that would “impose his will on the board and WWE.”

According to the proposed class action, McMahon timed his return to seize control of upcoming negotiations over WWE’s expiring media rights, the “lifeblood” of the business. He was accused of forcing his way back by leveraging a threat to withhold support for any deal reached without his participation.

The lawsuit further states that the move to “take complete personal control over any major corporate decision” by “adding his cronies to the board” violates Delaware law. We will keep you updated on this ongoing case.

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