Vince McMahon, Nick Khan, Paul 'Triple H' Levesque, Stephanie McMahon and other WWE executives and former WWE shareholders have reached a settlement in a lawsuit brought about by the shareholders who alleged misconduct on the part of McMahon, Khan, and the others during the company's merger with Endeavor to form TKO Group.
According to Brandon Thurston of POST Wrestling, Tamara Burton from the Delaware Court of Chancery has confirmed that both parties have reached a settlement agreement in principle.
“At the parties' request, the trial is cancelled," said Burton. "The parties have advised the court that they will present the settlement for approval in due course.” The exact terms of the settlement have not been released at this time.
WWE Shareholder lawsuit was cancelled over the weekend
The trial for this case was set to begin in court on Monday. However, over the weekend, the court date was canceled, leading to speculation that a settlement agreement may be on the horizon.
Last week, the defendants were dealt a major blow in the case when a judge ruled that they misused the auto-delete feature of the messaging service Signal to delete communication they were legally obligated to keep. The ruling allowed for five key facts to be treated as true once the case went to trial on June 8.
The lawsuit by the former shareholders alleges that McMahon failed to conduct the proper due diligence to get the best deal possible for shareholders when selling WWE. The suit claims that McMahon was only interested in one bidder for his pro wrestling juggernaut ,and that bidder was Endeavor.
The suit also alleges that the reason McMahon wanted to sell to Endeavor only was that he was to receive a prominent and powerful position inside the new company, TKO Group.
WWE was officially sold to Endeavor in 2023. At that time, Endeavor merged with the UFC to form the TKO Group. At that time, McMahon was made Executive Chairman of the company.
McMahon resigned from his position at TKO Group after horrific allegations were made about him by a former WWE staff member who claimed he sexually assaulted her during his time as Chairman of the Board in WWE.
Prior to that, McMahon retired from WWE in 2022 after the WWE Board of Directors began an investigation into payments made to former WWE employees with whom McMahon allegedly had affairs. He returned to the WWE at the beginning of 2023 in order to facilitate the sale of WWE to Endeavor.
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