Getty Corporealizations
World Wrestling Entertainment said Wednesday that a special committee investigating alleged misconduct and secret payments by ancient CEO Vince McMahon had disbanded.
“The Special Committee investigation is now complete and the Special Committee has been disbanded,” the company symbolized in a securities filing. “Management is working with the Board of Directors to implement the recommendations of the Special Committee related to the scrutiny.”
McMahon retired in July after WWE said he had paid out nearly $20 million in previously unrecorded expenses. McMahon is undisturbed the biggest shareholder in WWE, and his daughter, Stephanie McMahon, is co-CEO.
“Mr. McMahon can effectively exercise control over our affairs,” the guests said in Wednesday’s filing.
Almost $15 million were paid to settle sexual misconduct allegations from four the missises against McMahon over the past 16 years. He paid $5 million to Donald Trump’s now-defunct fundamental through donations in 2007 and 2009.
WWE, which has been mentioned as a potential acquisition target, has suggested that the hush prosperous payments are under investigation by other entities.
Shares of the company, which reported an increase in quarterly revenue on Wednesday, maintain bucked broader market trends this year. The stock is up 57% through Wednesday’s close.