Court Grants Preliminary Approval to Settlement for WWE Shareholders Lawsuits Over Saudi Arabia Deal Allegations

– According to a report by PWInsider, the United States District Court, District of Connecticut, has given a preliminary approval for a settlement regarding the multiple lawsuits that were filed against WWE over allegedly making “materially false and/or misleading statements and/or failing to disclose” a fraudulent scheme between WWE and the Saudi government. The approval was reportedly filed on September 20.

Settlement talks had been paused earlier, but they were later reopened on September 18 for the approvals to go through. The report noted that the settlement is expected to go through in the coming days.

As noted, WWE issued an SEC form last month noting that the company settled eight lawsuits by various shareholders alleging the company made false statements, failed to disclose facts, and more, with regards to the company’s negotiations for a TV deal in Saudi Arabia.

last November, WWE agreed to a settlement for $39 with the City of Warren Police and Fire Retirement System. The SEC filing from August noted a variety of other groups.