The McMahon family who has been the prime controller of the world’s biggest wrestling company, WWE, are now in danger as the current CEO Vince McMahon who has already been charged for paying hushing money of $3 Million in the month of June last year, now facing some other allegations and this time his seat at the board of the company is at stake.
A shareholder of the company filed a case against Vince McMahon, after his surprise return to WWE. His return was after 6 months of exile when being asked to resign from the position after sexual harassment charges.
Allegations on Vince McMahon
There are 3 allegations against the company’s head and these are some serious ones.
Two of the other cases allege that McMahon breached legal formalities when he unilaterally adopted specific bylaw revisions that would have taken power away from the board. However, the third allegation from the shareholder is much bigger and involves, “Rape” and “Sexual Violence”. It says that McMahon manipulates his employees, sexually uses them, and then pays a good amount just to keep them shut. The Bloomberg Law Reports
“There are serious questions about how Vince McMahon obtained and delivered those funds to his victims,” according to the complaint made public Tuesday in Delaware’s Chancery Court.
The suit also cites fears that McMahon’s comeback in January—when he staged a board “coup” after being forced out in July 2022—showed “a flagrant disregard for basic corporate governance norms.” The report says.
Believing “that the rules do not apply to him, Vince removed three independent directors and re-appointed himself, as well as two of his longtime cronies, The apparent misconduct here is both myriad and extremely serious.” The suit says in its report.
The suit marked it as thuggery of Vince McMahon and stated, “plaintiff intends to achieve what the board wanted to, but could not in light of Vince McMahon’s thuggery,” and later they barred Vince McMahon to serve on the board of the WWE forever.