GRABAR LAW OFFICE INVESTIGATES POTENTIAL SHAREHOLDER ACTION ON BEHALF OF SHAREHOLDERS OF WORLD WRESTLING ENTERTAINMENT, INC. (NYSE: WWE)
It is alleged that World Wrestling Entertainment, Inc. failed to disclose that by at least early 2019, the Saudi government had refused to make millions of dollars in payments owed to WWE. Rather than disclose these adverse developments, WWE’s officers and directors publicly represented that WWE had continued to bolster its relationship with Saudi Arabia and was making significant progress on the renewal of a critical media agreement and its business initiatives in the country. When the truth was revealed, the share price dropped by a stunning 60%. This corporate mismanagement led to a $39,000,000 class action settlement.
Current WWE shareholders who have held shares of the Company’s stock since at least February 7, 2019 have standing to seek corporate governance reforms, the return of funds back to company coffers and potentially a court approved incentive award if appropriate. $WWE
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