WWE Merger Lawsuit Settlement Submitted, Requires $147.5 million From The Defendants
Court documents have been submitted in the WWE-UFC merger lawsuit.
Brandon Thurston at POST Wrestling reports the stipulation in the settlement confirms that $147.5 million is required from the defendants: Vince McMahon, Nick Khan, Paul Levesque, George Barrios, and Michelle Wilson.
In the TKO second quarter financial report, it was revealed that the WWE portion of the overall settlement was $105 million/
The eligible shareholder class is defined as anyone who held WWE stock on September 12, 2023. Defendants who held stock can not benefit from the settlement.
According to POST, Plaintiffs’ co-lead counsel, firms Block & Leviton LLP and Bernstein Litowitz Berger & Grossmann LLP, will seek fees of up to 33% of the settlement fund, or roughly $48.7 million. After fees, administrative costs, and taxes, the remaining “net settlement fund,” likely around $100 million, will be distributed to shareholders.
The lawsuit, which was filed in 2023, alleged that Vince McMahon predetermined the transaction with Endeavor to secure his continued role at the company in light of the sexual misconduct scandal surrounding him, rather than shopping WWE to maximize shareholder value.
