WWE Shareholder Lawsuit Against Vince McMahon Dropped Due to $17.4 Million Repayment

– Bloomberg reports that a shareholder lawsuit against Vince McMahon in Delaware has been dropped this week. Shareholders who were reportedly leading the consolidated lawsuit agreed to drop the litigation on Wednesday (May 3), saying their claims became “moot” after McMahon agreed in late March to repay the $17.4 million that WWE spent to investigate him.

The motion to drop the lawsuit was later granted on the same day by Vice Chancellor J. Travis Lester. McMahon’s $17.4 million said to only cover the cost of the probe and not the near $20 million that McMahon is alleged to have paid his accusers, with some claims going as far back as 2007. The report also notes that counsel for the shareholders are looking to seek a “mootness fee” as a reward for their role in “forcing McMahon’s hand.”

Additionally, a different shareholder group is seeking its own mootness fee after dropping a related case when McMahon walked back some bylaw changes that he pushed through as part of his corporate coup of the WWE board earlier in January. McMahon previously retired from his post as Chairman and CEO of WWE in July 2022.

It should be noted that while these two cases were dropped, McMahon and WWE are still facing other lawsuits, including the recent lawsuit filed in April by a former WWE writer accusing McMahon and WWE of racial discrimination.