Pomerantz LLP is the latest law firm to announce they’re considering bringing a class-action lawsuit against WWE following the Vince McMahon scandal.
Pomerantz LLP announced this week that they’re looking into potentially filing lawsuits against McMahon when the hush money scandal first broke last summer because of “violations of the securities laws” on behalf of WWE investors.
Several law firms issued press releases noting they were looking for investors before McMahon stepped away as the CEO and Chairman. Following his return last month, the number of law firms has grown.
The investigation is focused on “whether WWE and/or the company’s officers and directors violated the securities laws or breached their fiduciary duties in connection with the above alleged misconduct.”
WWE is dealing with two current lawsuits. Detroit’s Police and Fire Retirement System filed a lawsuit against McMahon after being voted back on by the WWE Board of Directors to become the Board’s Executive Chairman in order to block him from regaining control and selling WWE.
WWE shareholder Scott A. Fellows filed a lawsuit against McMahon in Delaware’s Chancery Court in January because he believes McMahon illegally installed himself as chairman.
