Vince McMahon‘s return to WWE continues to present new problems for himself and the company, as another lawsuit has been filed against the Executive Chairman of the Board.
According to Michael McCann of Sportico, Detroit’s Police and Fire Retirement System has sued Vince McMahon and is seeking a result that could potentially block Mr. McMahon from regaining control of WWE’s board of directors and his ability to expedite a sale.
This might be a difficult one to pull off as Vince McMahon already regained control of WWE’s board of directors last week. This lawsuit will seemingly be paired as part of a class action lawsuit on behalf of other WWE stockholders. The lawsuit argues that Vince McMahon has imposed “his personal will on WWE and its [board] by purporting to adopt a package of invalid and inequitable bylaw amendments that would hamstring the Board from making critical business decisions.”
It goes on to argue that McMahon’s forceful return to WWE violates both Section 141 of the Delaware General Corporation Law and WWE’s charter, as neither permits the transfer of power that recently occurred within the company.
While it would be simple to dismiss such a class action lawsuit in most fans’ minds, stockholder litigation typically takes some time to play out in court. These two recent lawsuits could complicate a future sale and even affect the sale price of the company.
READ MORE: Vince McMahon No Longer Needs WWE Stockholder Approval For His Actions
What do you make of this latest lawsuit? Do you think these issues WWE is currently facing with Vince McMahon back at the helm will delay a sale from happening in 2023? Let us know your thoughts by sounding off in the comments section below.
