Vince McMahon, several WWE executives, and former WWE shareholders reached a settlement in a lawsuit over the company’s merger with Endeavor to form TKO Group. Delaware’s Chancery Court had scheduled the trial to begin on Monday and last for one week.
The settlement of the lawsuit, which also included Nick Khan, Paul ‘Triple H’ Levesque, Stephanie McMahon, and other WWE executives, means testimony about Vince McMahon’s alleged sexual misconduct and hush money scandals will not occur.
Following the wrestling company’s $21 billion 2023 merger with Endeavor, the parent company of the Ultimate Fighting Championship (UFC), several WWE shareholders filed a lawsuit in Delaware. They accused Vince McMahon and the other WWE executives of pursuing the deal in a way that violated their fiduciary duties and benefited McMahon at the expense of shareholders.
A trial could have exposed Vince McMahon and the WWE to damaging testimony
According to ESPN, if the trial had been held, the shareholders would have probably asked Vince McMahon to produce all records pertaining to the accusations of sexual misconduct, as well as records of any money he paid to female accusers. The documents would have allegedly reflected McMahon’s “state of mind” at the time of the merger.
Front Office Sports reported that the suing shareholders had demanded that McMahon provide these documents as part of the discovery process. Amidst the initial accusations in 2022, McMahon resigned as chairman and CEO of WWE. The following year, he returned to the board to help complete the merger with the UFC.
After Janel Grant, a former WWE employee, claimed that Vince McMahon had abused and trafficked her, the merged company asked McMahon to step down in January 2024. That lawsuit is still pending.
Another lawsuit, filed by five former WWE ring crew workers, filed against McMahon and his wife, Linda McMahon, alleges that the two “knowingly allowed” a ring crew chief to sexually abuse them decades ago. That case is still pending as well.