WWE Chairman and CEO Vince McMahon speaks at a information convention pronouncing the WWE Community on the 2014 World CES in Las Vegas.
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The Securities and Alternate Fee and federal prosecutors have introduced probes into bills made by way of Global Wrestling Leisure CEO Vince McMahon to settle allegations of sexual misconduct, in line with a brand new file from The Wall Side road Magazine.
The WWE on Monday disclosed $14.6 million in up to now unrecorded bills paid individually by way of McMahon, who introduced his retirement Friday. The corporate additionally hinted that the misconduct allegations, already the topic of an ongoing unbiased overview overseen by way of the board of administrators, are below investigation by way of different entities, however didn’t specify which businesses.
In step with The Wall Side road Magazine, those federal investigations into McMahon hastened his retirement from the corporate. McMahon, 76, is the most important shareholder within the corporate, with an roughly 32% stake.
CNBC has reached out to the WWE for remark.
McMahon allegedly paid just about $15 million to girls from 2006 via this yr to verify their silence over alleged affairs and misconduct. The WWE stated it could mirror the unrecorded bills in up to date experiences for 2019, 2020 and 2021, in addition to this yr’s first quarter, when it experiences second-quarter income.
The corporate used to be set to file Aug. 9, however the revisions may prolong that, WWE stated.
Stocks of WWE rose greater than 8% to succeed in a brand new 52-week top Monday, as traders was extra bullish a couple of possible sale of the wrestling and media corporate. The inventory is up 45% to this point this yr, outpacing the S&P 500, which is off greater than 16% in 2022.
Learn the whole file from The Wall Side road Magazine.