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World Wrestling Leisure stated Wednesday {that a} particular committee investigating alleged misconduct and secret funds by former CEO Vince McMahon had disbanded.
“The Particular Committee investigation is now full and the Particular Committee has been disbanded,” the corporate stated in a securities submitting. “Administration is working with the Board of Administrators to implement the suggestions of the Particular Committee associated to the investigation.”
McMahon retired in July after WWE stated he had paid out almost $20 million in beforehand unrecorded bills. McMahon remains to be the most important shareholder in WWE, and his daughter, Stephanie McMahon, is co-CEO.
“Mr. McMahon can successfully train management over our affairs,” the corporate stated in Wednesday’s submitting.
Virtually $15 million have been paid to settle sexual misconduct allegations from 4 ladies towards McMahon over the previous 16 years. He paid $5 million to Donald Trump’s now-defunct basis via donations in 2007 and 2009.
WWE, which has been talked about as a possible acquisition goal, has recommended that the hush cash funds are beneath investigation by different entities.
Shares of the corporate, which reported a rise in quarterly income on Wednesday, have bucked broader market traits this yr. The inventory is up 57% via Wednesday’s shut.
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