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WWE News
WWE News: Jakks Pacific claims lawsuit by WWE to be dismissed in Federal Court Dec 3, 2007 - 2:32:49 PM
Reuters News Service is reporting that Jakks Pacific representatives are certain that a federal court in New York would dismiss WWE's lawsuit against the toy manufacturer for the company's role in a bribery scheme involving former WWE employees.
In WWE's quarterly conference calls with investors over the past few years, CEO Linda McMahon has regularly discussed the status of legal action against Jakks. WWE had been frustrated by the slow nature of the legal proceedings, but reasonably certain a judgment could be reached.
In WWE's latest quarterly earnings report filed on November 6, they noted that additional claims had been filed against Jakks in Connecticut state court in March following the convictions of former employees Stanley Shenker and Jim Bell. WWE reported they have received repayment of $0.8 million of the $2.8 million settlement against Shenker and Bell.
WWE did not provide a comment to Reuters on the statement from Jakks.
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