A new update involving a Vince McMahon lawsuit.
After McMahon returned to WWE’s Board of Directors and was voted in as Executive Chairman in January, he and the company were faced with a lawsuit by WWE shareholders who cited “a breach of fiduciary duty” as it related to his return and a change to the company’s bylaws.
In an update, a new SEC filing has revealed that McMahon has paid $1.65 million in plaintiff attorney fees.
“In lieu of an application for attorneys’ fees and expenses and after engaging in arms’-length negotiations, McMahon agreed to make a payment to plaintiffs’ counsel in the amount of $1,650,000 in attorneys’ fees (inclusive of expenses). The Court has not been asked to review, and will pass no judgment on, the payment of a fee or its reasonableness.”
McMahon and WWE have been faced with several lawsuits stemming from his hush money allegations and eventual return to power. He previously paid $17.4 million to cover the cost of WWE’s investigation against him after he initially retired in July 2022.
RELATED: WWE Shareholder Files Lawsuit Against Vince McMahon, Accuses Him Of Breaching Fiduciary Duty
