WWE was involved in a class-action lawsuit from the City of Warren Michigan’s Police and Fire Retirement System. The lawsuit was made owing to alleged misconduct WWE’s dealings with Saudi Arabia. Now the lawsuit has been settled.
As officially announced by the company, the lawsuit which is worth $39 million has been settled. The lawsuit in question was filed in March of this year, alleged that WWE executives deceived investors with respect to the company’s dealings in Saudi Arabia.
Dave Meltzer took to Twitter and said that that there were multiple lawsuits at once and it was an out of court settlement.
“The WWE just settled the Saudi Arabia lawsuit out of court for $39 million.”
“There were multiple lawsuits filed against WWE regarding shareholders being misled on relations with Saudi Arabia and what happened when the flight coming back was delayed. WWE settled out of court.”
In the press release, it was noted that “the company believes that resolving the matter is the right business decision and that it is prudent to end the protracted and uncertain class action process.”
The WWE just settled the Saudi Arabia lawsuit out of court for $39 million.
— Dave Meltzer (@davemeltzerWON) November 20, 2020
There were multiple lawsuits filed against WWE regarding shareholders being misled on relations with Saudi Arabia and what happened when the flight coming back was delayed. WWE settled out of court. https://t.co/s3hJxPrsgE
— Dave Meltzer (@davemeltzerWON) November 20, 2020
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