WWE's internal investigation into Vince McMahon concludes

Last June, the Wall Street Journal reported that the WWE Board of Directors had initiated an investigation into Vince McMahon for alleged sexual misconduct and money laundering. The scandal caused the WWE chairman to temporarily step down from his position at the helm of the company, although he eventually decided to retire from the company. Today, the company presented the financial results for the third quarter of 2022. During the meeting, WWE announced that the investigation weighing on McMahon had concluded and that the special committee had been dissolved. It should be noted that the investigation cost the company $19.4 million. Then we leave you with the official statement: "From WWE: Special Committee Investigation As previously announced, a special committee of independent board members was formed to investigate the alleged misconduct of Vincent K. McMahon, former chairman and CEO of the company, who resigned from all positions he held with the company in the company on July 22, 2022, but that remains a shareholder with a controlling interest, and another executive, who is also not with the company. The special committee investigation has concluded and the special committee has been dissolved. Management is working with the board to implement the special committee's recommendations related to the investigation. For periods three and nine months ended September 30, 2022, the Company's consolidated pre-tax results include the impact of $17.7 million and $19.4 million, respectively, associated with certain costs related to the investigation. Please refer to the Company's SEC filings, including, but not limited to, its annual report on Form 10-K/A and quarterly reports on Form 10-Q/A and Form 10-Q for further details and ongoing risks in connection with this matter. "It should be recalled that Vince McMahon's departure caused severe changes in WWE, with Nick Khan and Stephanie McMahon named co -general manager of the company, while Triple H took over the creative work.

2022-11-11T23:53:15+00:00
Duration: 02:16