Block & Leviton is co-lead counsel in this class action challenging World Wrestling Entertainment Inc.’s (“WWE”) $21.4 billion merger with Ultimate Fighting Championship (“UFC”), whereby WWE and UFC combined to form TKO Group Holdings. The complaint alleges that Vince McMahon (“McMahon”), WWE’s controlling stockholder, used his control to force himself back on the WWE board of directors (after being ousted for allegations of sexual misconduct and unlawful hush money payments) to steer the sale of the company to UFC, owned by McMahon’s long-time friend Ari Emanual and Endeavor Group. The Block & Leviton team was selected to lead this action, in part, due to the Ms. Evans and Ms. Lax’s prior experience litigating sexual misconduct cases.
None of the defendants moved to dismiss the complaint, and the action is now in fact discovery.
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