WWE Shareholder Lawsuit Expands Subpoenas to McMahon, Executives, Liberty Media

The ongoing WWE shareholder lawsuit filed in November 2023 accuses Vince McMahon of manipulating the 2023 sale of WWE to Endeavor to secure his continued control, bypassing other potential bidders and failing to protect shareholder interests. Alongside McMahon, current WWE executives Nick Khan and Paul "Triple H" Levesque, as well as former board members George Barrios and Michelle Wilson, are named defendants for allegedly breaching their fiduciary duties. The case has expanded with subpoenas issued to former WWE executive John Laurinaitis, McMahon's personal assistants Paul and Michael Mangieri, and representatives from Liberty Media and private equity firm KKR, both considered potential bidders during the sale. Depositions have been conducted or scheduled, including those of TKO CFO Andrew Schleimer and various WWE board members, as the lawsuit remains in the discovery phase. The plaintiffs argue that McMahon steered the sale specifically to Endeavor because it was the only buyer that would allow him to retain power after his 2022 sexual misconduct scandal. This legal battle highlights ongoing scrutiny of McMahon's business dealings and the WWE merger process, with further developments anticipated in the coming weeks.