The ongoing WWE shareholder lawsuit continues to escalate, as Stephanie McMahon and TKO CEO Ari Emanuel are now scheduled to be deposed. According to a new report from Wrestlenomics, McMahon is scheduled for a deposition on October 24, while Emanuel’s deposition is set for December 2. Their involvement is a development in the case, which alleges that former WWE Chairman Vince McMahon engineered the 2023 merger with Endeavor for his own personal gain, rather than to maximize the value of the company for its shareholders.
The lawsuit, which was filed in November 2023 by the Ohio Laborers’ Pension Fund, claims that Vince McMahon’s primary motivation for the sale was to ensure he could remain in a position of power, and that in doing so, he bypassed other potential buyers who may have offered a better deal for shareholders but would not have kept him in charge.
In addition to McMahon and Emanuel, a number of other current and former high-level executives are also set to be deposed, including former WWE executive Frank Riddick, former WWE executive and current President of 14TH & I Brad Blum, and Executive Vice President of Strategy for TKO and Endeavor, Mark Zhu.
It is important to note that under Delaware law, the transcripts of these depositions do not automatically become public record, but excerpts may be filed at a later date. This shareholder lawsuit is just one of the major legal battles facing Vince McMahon. He is also the subject of a lawsuit from former WWE employee Janel Grant, who has accused him of sexual assault and sex trafficking, allegations that led to his resignation from TKO Group in 2024.
