WWE settles class action lawsuit from Saudi Arabia business dealings

BY BRUCE LEE HAZELWOOD, PWTORCH CONTRIBUTOR


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WWE has officially settled the class action lawsuit concerning their business dealings with Saudi Arabia according to Marc Middleton of WrestlingInc.com.

Middleton noted that the suit, originally filed in Match 2020, had a final settlement approval of 39 million dollars in early July. The suit alleged that WWE deceived investors about their business dealings with Saudi Arabia, inflating their stock, and selling more than 280 million dollars worth of fraudulently inflated prices.

Middleton reported that as of August 16, a new SEC filing confirms the settlement has been finalized. However, WWE continues to deny all blame while arguing that resolving the suit “is the proper business decision” and “prudent to end the protracted and uncertain derivative litigation process.”

You can read the SEC filing here.


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