Vince McMahon returned to WWE’s Board of Directors last month to execute a sale of his billion-dollar company and negotiate new television deals. Vince’s return caused his daughter Stephanie McMahon to resign from WWE, leaving Nick Khan as the sole CEO of the juggernaut wrestling promotion.
Throughout January, Vince has been sued multiple times by multiple individuals and entities over his return to WWE’s Board.
Bloomberg now reports that on January 26th, shareholder Dennis Palkon filed a new lawsuit against WWE in Delaware Chancery Court.
The lawsuit seeks WWE’s internal files to launch an investigation into the allegations that Mr. McMahon “raped and sexually assaulted employees and contractors over decades” and paid millions of dollars in hush money to silence those allegations. The lawsuit further states “There are serious questions about how Vince McMahon obtained and delivered those funds to his victims” and suggests that McMahon reinstating himself as Executive Chairman of WWE’s Board displayed a “flagrant disregard for basic corporate governance norms.”
According to the lawsuit, if the information provided proves McMahon guilty of breaching his fiduciary responsibilities, “the plaintiff intends to achieve what the board wanted to, but could not in light of Vince McMahon’s thuggery [and initiate proceedings] to bar Vince McMahon from ever serving on the WWE board again.”
WWE has been dealing with three other lawsuits over McMahon’s return this past month.