Expert Report Has Shareholder Plaintiffs In WWE Merger Lawsuit Seeking $466 million – $957 Million In Damages
Attorneys representing a class of WWE shareholders in merger lawsuit argue that, based on their expert report, they are owed close to $1 billion.
According to Brandon Thurston of POST Wrestling, “The monetary damages the plaintiffs are seeking range between $466 million and $957 million, plus interest accrued since the merger closed nearly three years ago. The range comes from an analysis written earlier this year by James L. Canessa, a financial economist retained by the plaintiffs.”
Vince McMahon, Nick Khan, Paul Levesque, George Barrios, and Michelle Wilson, the defendants in the case, argue that no damages are owed as the merger between WWE and UFC to create TKO was fair.
The case is scheduled to start on Monday, June 8.
If the plaintiffs win monetary damages, that money would be proportionally distributed to shareholders who held WWE stock during a relevant period to be determined.
The lawsuit, which was filed in 2023, alleges that McMahon predetermined the transaction with Endeavor to secure his continued role at the company in light of the sexual misconduct scandal surrounding him, rather than shopping WWE to maximize shareholder value.
