world wrestling entertainment He said Wednesday that a special committee investigating alleged misconduct and confidential payments by former CEO Vince McMahon has been dissolved.
“The investigations of the Special Committee have now been completed and the Special Committee has been dissolved,” the company said. Securities Deposit. “The administration is working with the Board of Directors to implement the recommendations of the Special Committee relating to the investigation.”
McMahon retired in July after WWE said he had paid nearly $20 million in previously unrecorded expenses. McMahon remains the largest shareholder in WWE, and his daughter Stephanie McMahon is the co-CEO.
“Mr. McMahon can effectively exercise control over our affairs,” the company said in a filing on Wednesday.
Nearly $15 million has been paid to settle allegations of sexual misconduct by four women against McMahon over the past 16 years. He paid $5 million to the now-defunct Donald Trump Foundation through donations in 2007 and 2009.
WWE, which has been mentioned as a potential acquisition target, has suggested that the silent money payments are under investigation by other entities.
shares of the company that Recorded an increase in quarterly revenue On Wednesday, you have Deviate from broader market trends this year. The stock is up 57% through Wednesday’s close.
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