{"id":94514,"date":"2023-03-02T05:20:30","date_gmt":"2023-03-02T05:20:30","guid":{"rendered":"http:\/\/lebanonnewsgazette.com\/?guid=4c3943e4c4ba880c61509ec2373baf04"},"modified":"2023-03-02T05:20:30","modified_gmt":"2023-03-02T05:20:30","slug":"rosen-a-respected-and-leading-firm-encourages-world-wrestling-entertainment-inc-investors-with-losses-to-inquire-about-securities-class-action-investigation-wwe","status":"publish","type":"post","link":"https:\/\/lebanonnewsgazette.com\/rosen-a-respected-and-leading-firm-encourages-world-wrestling-entertainment-inc-investors-with-losses-to-inquire-about-securities-class-action-investigation-wwe\/","title":{"rendered":"ROSEN, A RESPECTED AND LEADING FIRM, Encourages World Wrestling Entertainment, Inc. Investors with Losses to Inquire About Securities Class Action Investigation \u2013 WWE"},"content":{"rendered":"
\n

NEW YORK, March 01, 2023 (GLOBE NEWSWIRE) —<\/p>\n

WHY: <\/strong>Rosen Law Firm, a global investor rights law firm, continues to investigate potential securities claims on behalf of shareholders of World Wrestling Entertainment, Inc. (NYSE: WWE) resulting from allegations that WWE may have issued materially misleading business information to the investing public.<\/p>\n

SO WHAT:<\/strong> If you purchased WWE securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. The Rosen Law Firm is preparing a class action seeking recovery of investor losses.<\/p>\n

WHAT TO DO NEXT: <\/strong>To join the prospective class action, go to https:\/\/rosenlegal.com\/submit-form\/?case_id=7052<\/a> or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com<\/a> or cases@rosenlegal.com<\/a> for information on the class action.<\/p>\n

WHAT IS THIS ABOUT:<\/strong> On June 15, 2022, The Wall Street Journal<\/em> published an article entitled \u201cWWE Board Probes Secret $3 Million Hush Pact by CEO Vince McMahon, Sources Say\u201d which revealed that \u201c[t]he board of World Wrestling Entertainment Inc. [] is investigating a secret $3 million settlement that longtime chief executive Vince McMahon agreed to pay to a departing employee with whom he allegedly had an affair, according to documents and people familiar with the board inquiry.\u201d The article further revealed, among other things, that \u201c[t]he board\u2019s investigation, which began in April, has unearthed other, older nondisclosure agreements involving claims by former female WWE employees of misconduct by Mr. McMahon and one of his top executives, John Laurinaitis, the head of talent relations at WWE, the people said.\u201d On this news, WWE\u2019s stock price fell $2.31 per share, or 3.4%, to close at $64.87 per share on June 16, 2022, the next full trading day.<\/p>\n

On June 17, 2022, before trading hours, WWE issued a press release entitled \u201cWWE\u00ae & Board of Directors Joint Release\u201d which announced that \u201ca Special Committee of the Board is conducting an investigation into alleged misconduct by its Chairman and CEO Vincent McMahon and John Laurinaitis, head of talent relations, and that, effective immediately, McMahon has voluntarily stepped back from his responsibilities as CEO and Chairman of the Board until the conclusion of the investigation.\u201d On this news, WWE\u2019s stock fell $2.36 per share, or 3.6%, to close at $62.51 per share on June 17, 2022.<\/p>\n

On July 22, 2022, Vince McMahon announced his retirement from WWE.<\/p>\n

On July 25, 2022, WWE filed with the SEC a current report on Form 8-K which announced, among other things, that \u201c[t]he Company has made a preliminary determination that certain payments that Vince McMahon agreed to make during the period from 2006 through 2022 (including amounts paid and payable in the future), and that were not recorded in the WWE consolidated financial statements, should have been recorded as expenses in the quarters in which those agreements were made (the \u201cUnrecorded Expenses\u201d)[,]\u201d which \u201c[a]s of the date hereof, the Company has identified Unrecorded Expenses totaling approximately $14.6 million.\u201d The report further announced that \u201cthe Company currently anticipates that it will revise its previously issued financial statements to record the Unrecorded Expenses in the applicable periods for the years ended December 31, 2019, 2020 and 2021, as well as the first quarter of 2022[.]\u201d Finally the report also announced that \u201c[t]he Company has also received, and may receive in the future, regulatory, investigative and enforcement inquiries, subpoenas or demands arising from, related to, or in connection with these matters.\u201d<\/p>\n

WHY ROSEN LAW: <\/strong>We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs\u2019 Bar. Many of the firm\u2019s attorneys have been recognized by Lawdragon and Super Lawyers.<\/p>\n

Follow us for updates on LinkedIn: https:\/\/www.linkedin.com\/company\/the-rosen-law-firm<\/a>, on Twitter: https:\/\/twitter.com\/rosen_firm<\/a> or on Facebook: https:\/\/www.facebook.com\/rosenlawfirm\/<\/a>.<\/p>\n

Attorney Advertising. Prior results do not guarantee a similar outcome.<\/p>\n

——————————–<\/p>\n

Contact Information:<\/p>\n

Laurence Rosen, Esq.
\nPhillip Kim, Esq.
\nThe Rosen Law Firm, P.A.
\n275 Madison Avenue, 40th Floor
\nNew York, NY 10016
\nTel: (212) 686-1060
\nToll Free: (866) 767-3653
\nFax: (212) 202-3827
\nlrosen@rosenlegal.com<\/a>
\npkim@rosenlegal.com<\/a>
\ncases@rosenlegal.com<\/a>
\nwww.rosenlegal.com<\/a><\/p>\n

GlobeNewswire Distribution ID 8779681<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

NEW YORK, March 01, 2023 (GLOBE NEWSWIRE) \u2014 WHY: Rosen Law Firm, a global investor rights law firm, continues to investigate potential securities claims on behalf of shareholders of World Wrestling Entertainment, Inc. (NYSE: WWE) resulting from allegations that WWE may have issued materially misleading business information to the investing public. SO WHAT: If you [\u2026]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2584,17,53,343],"tags":[],"yoast_head":"\nROSEN, A RESPECTED AND LEADING FIRM, Encourages World Wrestling Entertainment, Inc. 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