Several law firms are looking into bringing class action lawsuits against World Wrestling Entertainment, following the recent Vince McMahon scandal. The number is up to 7 now.
Brandon Thurston of WrestleNomics pointed out on Twitter that 2 more firms (Moore Kuehn, PLLC, and Pomerantz Law Firm) have issued press releases, noting that they're investigating WWE for violations of the securities laws, on behalf of WWE investors.
The firms are seeking WWE shareholders who have suffered a loss, in order for them to participate in a class action lawsuit. They join other firms including Scott+Scott, Rosen Law Firm, Schall Law Firm, Brager Eagel & Squire, and Labaton Sucharow.
They’ve all referred to a report last week by the Wall Street Journal. regarding WWE Board Probes Secret $3 Million Hush Pact by CEO Vince McMahon, Sources Say - WSJ to a former employee, over an alleged sexual relationship. WWE’s board is also looking into the misconduct allegations against McMahon and John Laurinaitis.
The former Johnny Ace has been placed on administrative leave. McMahon is still in charge of creative, while stepping down temporarily as CEO & Chairman.