WWE Shareholder Trial Taken Off Court Calendar

It appears as if the shareholder trial over the WWE/TKO merger won’t happen next week after all, as it’s been taken off the court calendar. As reported the trial in the lawsuit filed on behalf of shareholders was set to start on Monday in Delaware Chancery Court. That is no longer the case, as Bloomberg Law reports.

The outlet notes that an attorney for the shareholders said late Friday afternoon that the trial, which was set to go four days, wasn’t on the schedule anymore. The reason was not immediately revealed for its removal and the lawyer, Greg Varallo, declined to provide more information.

The lawsuit was filed in November of 2023 against Vince McMahon, Nick Khan, Triple H, George Barrios, and Michelle Wilson. It alleged that the TKO merger resulted in damages to WWE shareholders by undervaluing WWE. It alleged that WWE’s investigation into McMahon on sexual misconduct allegations was a “sham” and that McMahon manipulated the sale process to Endeavor for his benefit. The claim was that this ultimately breached the defendants’ fiduciary duty to shareholders.

The trial was set to have a number of WWE executives and past executives testify including McMahon, Khan, Triple H and many others. An expert report from the plaintiffs estimated damages to shareholders as a whole ranged from $446 million to $949 million

No word on whether a settlement has been reached, of the trial is simply delayed, or if there is some other reason for the removal.