Several WWE shareholders have filed lawsuits against WWE Chairman and CEO Vince McMahon, President and Chief Revenue Officer Nick Khan, and other top executives, alleging a “sham sales process” in the potential WWE-UFC merger.
According to a report by FirstSportz, the lawsuits claim that McMahon, Khan, and others have breached their fiduciary duties by initiating a merger with UFC without properly exploring other potential buyers or conducting a fair sales process.
The shareholders allege that the potential merger with UFC was driven by personal interests and that the executives did not consider the best interest of the WWE shareholders in their decision-making process.
The lawsuits also accuse McMahon and Khan of making false and misleading statements to the shareholders and manipulating the sales process to favor UFC.
The potential merger between WWE and UFC has been a topic of speculation in the wrestling and combat sports world for quite some time. The lawsuits come as a surprising turn of events in the ongoing discussions about the potential merger.
WWE has not yet responded to the lawsuits, but it is expected that the company will issue a statement addressing the allegations in the coming days.
The allegations of a “sham sales process” have stirred up controversy and raised concerns about the potential merger between the two major sports entertainment companies.
The outcome of the lawsuits and the impact it may have on the potential merger remains to be seen, but it is clear that this development will have significant implications for the future of WWE and UFC.