Former WWE Chairman Vince McMahon has reportedly reached a settlement in a major shareholder lawsuit related to WWE’s merger with UFC.
The settlement ends the case before trial. It also prevents further court examination of the negotiations that led to the formation of TKO Group. The lawsuit had drawn attention to deleted Signal messages, which became a notable issue during the proceedings.
Following news of the settlement, Fightful Select reported receiving a statement from a source close to Vince McMahon regarding the lawsuit.
Vince McMahon associate comments on WWE merger lawsuit
The source said, “This exact kind of litigation follows every single transaction involving a public company. But here’s the key: Endeavor’s bid was by far the highest. It was signed off on by three separate independent banks – JP Morgan, Raine, and Moelis. That’s why WWE’s Board of Directors gave their unanimous approval. The deal created the premier combat sports company. And the shareholders made an absolute fortune.”
Fightful noted that the statement reflects the opinion of someone close to McMahon and should not be viewed as a factual conclusion. The report also stated that sources involved in other lawsuits connected to WWE and TKO believe at least one of those cases could still move into the discovery phase.
The statement offers a glimpse into how those close to McMahon view the lawsuit and WWE-UFC merger.
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