World Wrestling Leisure mentioned 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 mentioned 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 mentioned he had paid out practically $20 million in beforehand unrecorded bills. McMahon remains to be the largest shareholder in WWE, and his daughter, Stephanie McMahon, is co-CEO.
“Mr. McMahon can successfully train management over our affairs,” the corporate mentioned in Wednesday’s submitting.
Virtually $15 million was paid to settle sexual misconduct allegations in opposition to McMahon from 4 girls over 16 years. He paid $5 million to Donald Trump’s now-defunct basis by donations in 2007 and 2009.
WWE, which has been talked about as a possible acquisition goal, has urged that the funds are underneath 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 was up 57% by Wednesday’s shut.
