Update on legal action being taken against Vince McMahon amidst news of his return to WWE
As previously noted, Vince McMahon has been reinstated to the WWE Board of Directors and is looking into the possibility of the company being sold.
According to Dave Scherer of PWInsider.com, he was sent an e-mail from a friend who is a party in the WWE shareholder derivative suit that was filed last June by Scott and Scott after the NDA allegations against Vince McMahon surfaced. Here is the e-mail from the lawyers with names redacted to ensure privacy…
“I hope you had a great holiday season. I’m writing with an update on WWE. We have been working with the company for several months and have received several internal documents, which we have been reviewing. We expect to get an additional batch of documents this week.
You also may have seen the news this past week about Vince McMahon forcing his way back onto the board, along with a major board shakeup. As a result, we believe there is enough of a basis to bring a breach of a fiduciary lawsuit. We hope to file a complaint against McMahon and possibly other directors/officers for breaching their duties to WWE and its shareholders. We should have a draft for you to review in the next couple of days.
It will also require a signature on a one-page verification which we will also send. In the meantime, do you have a phone number we could use in case we need to contact you that way? Please let me know if you have any questions about anything.”