The WWE shareholder merger lawsuit has been settled before trial. The case was removed from the Delaware Court of Chancery calendar over the weekend, with Court Administrator Tamara Burton confirming the trial was canceled after both parties reached an agreement in principle. Brandon Thurston of Wrestlenomics reported the same.
A source close to Vince McMahon issued a statement defending the original Endeavor deal to Fightful Select: “This exact kind of litigation follows every single transaction involving a public company. But here’s the key: Endeavor’s bid was by far the highest. It was signed off on by three separate independent banks — JP Morgan, Raine and Moelis. That’s why WWE’s Board of Directors gave their unanimous approval. The deal created the premier combat sports company. And the shareholders made an absolute fortune.”
The lawsuit, filed in November 2023, alleged McMahon predetermined the TKO merger deal to protect his position at the company amid sexual misconduct allegations, rather than maximizing shareholder value. McMahon, Nick Khan, Triple H, Stephanie McMahon, and Mark Shapiro were among those scheduled to testify. McMahon and Khan had previously been sanctioned by the judge for destroying messages via Signal’s auto-delete feature. The plaintiffs’ attorneys had asserted their clients were owed nearly $1 billion.
Terms of the settlement have not been disclosed.
