A class action lawsuit on behalf of WWE shareholders has been filed against Vince McMahon following his return to power and plans to sell WWE. / WWESold RIPWWE WWE VinceMcMahon
\nVince McMahon's return to power in WWE has been going pretty well for him so far. McMahon was forced to retire last year over sexual misconduct accusations and investigations into hush money payments to the accusers, but he returned with a vengeance to kick off 2023, using his majority stockholder voting power to elect himself Chairman, effectively oust his detractors and initiate a sale of the company, possibly for a ton of money from Saudi Arabia.
However, as we all know, and as the filing recounts, McMahon then 'took matters into his own hands' by using his 81% majority voting power to force his way back in, amending the company bylaws, replacing three board members with himself and two others, and amending company bylaws to give himself, amongst other powers, the right to block media deals and attempts by the board to reassert power.
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