What started out as just a TV wrestling stunt could have Vince McMahon and World Wrestling Entertainment in a headlock from federal authorities.
The trouble is that both WWE and Raw's parent network (USA) sent out official press releases announcing Trump's "purchase." And, WWE publicly held shares fell nearly 7% the next day.
The releases were fiction. But, federal investigators prefer to use words like "false reporting." The Securities and Exchange Commission generally frowns on deliberately false media reports that affect the stock market. So far, the SEC opted for a "no comment" on whether it's planning to investigate the incident.
WWE and the USA Network issued a joint press release three days later stating that Raw had not been sold to Trump and it was just a storyline...More?
partial source: tvsquad.com
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June 20, 2009
WWE and the SEC
Oderint Dum Metuant: Let Them Hate As Long As They Fear
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