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Investigation for Investors in NYSE: WWE shares over possible Wrongdoing at World Wrestling Entertainment, Inc. announced

05-27-2020 11:49 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Shareholders Foundation

An investigation on behalf of current long term investors in World Wrestling Entertainment, Inc. (NYSE: WWE) shares.

An investigation on behalf of current long term investors in World Wrestling Entertainment, Inc. (NYSE: WWE) shares.

An investigation was announced concerning potential breaches of fiduciary duties by certain directors and officers of World Wrestling Entertainment, Inc..

Investors who are current long term investors in World Wrestling Entertainment, Inc. (NYSE: WWE) shares, have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm for current long term investors in NYSE: WWE stocks follows a lawsuit filed against World Wrestling Entertainment, Inc. over alleged securities laws violations. The investigation on behalf of current long term investors in NYSE: WWE stocks, concerns whether certain World Wrestling Entertainment, Inc. directors are liable in connection with the allegations made in that lawsuit.

According to that complaint filed in the U.S. District Court for the Southern District of New York the plaintiff alleges that the defendants failed to disclose that WWE was experiencing rising tension with the Saudi government and a breakdown in negotiations over a renewed broadcasting distribution deal; that the Saudi government and its affiliates had failed to make millions of dollars in payments owed to WWE pursuant to existing contractual commitments between the parties; that OSN had terminated the broadcast of WWE programming in the first quarter of 2019, despite a contractual obligation to continue such broadcasts, and that this cancellation was symptomatic of a deterioration in the business relationship between the parties; that OSN had rebuffed efforts to renew a distribution rights agreement on terms acceptable to WWE; and that WWE did not have the ability to expand its operations in the Middle East or within Saudi Arabia as had been represented to investors.

Shares of World Wrestling Entertainment, Inc. (NYSE: WWE) declined from $100.10 per share in April 2019 to as low as $40.24 per share on February 6, 2020, respectively $31.05 per share on March 13, 2020.

Those who purchased shares of World Wrestling Entertainment, Inc. (NYSE: WWE) have certain options and should contact the Shareholders Foundation.

Media Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

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