WWE FACING ANOTHER LAWSUIT
It appears that lawyers at WWE have their work cut out for them, as it was revealed yesterday that WWE’s top brass have been named in another lawsuit.
WWE, Vince McMahon, Stephanie McMahon, Paul Levesque, Frank Riddick III, Stuart Goldfarb, Laureen Ong, Robyn Peterson, Man Jit Singh, Jeffery Speed, Alan Wexler, and George Barrios were all named in a class action brought by WWE shareholders Ryan Merholz and Melvyn Klein.
The move seems to have come following WWE’s first-quarter financial report issued mid-last week, with all the filings focused around WWE’s financial dealings. The papers place the following accusations at the feet of WWE’s top board members:
- Wasting corporate assets
- Making false statements
- Failure to disclose adverse facts
- misleading the investing public
- allowing the senior executive to offload WWE stock at inflated prices
Most of the above focuses on the Saudi deal, claiming that WWE delayed reporting aspects that would reflect negatively on the company. See below for a very small portion of the lawsuit:
On April 25, 2019, the Company disclosed disappointing financial results and fiscal guidance, which several analysts connected to the Company’s dealings with the Saudis. While Defendants insisted that negotiations were proceeding smoothly and nearing completion, this claim was shown to be false on October 31, 2019 when the Defendants caused the release of the Company’s third quarter 2019 financial results. Therein, the Company revealed significant underperformance across key metrics and surprised investors by disclosing that the MENA region broadcasting deal had been indefinitely delayed. In addition, it was reported that the Saudi government had withheld tens of millions of dollars in payments owed to WWE. The dispute culminated in a decision by WWE to cut a broadcasting feed of a live event held in Saudi Arabia. In retaliation, the Saudi government temporarily refused to allow several WWE wrestlers to leave the country in a “hostage situation” under the guise of mechanical airplane issues.
documents provided by Heel By Nature
WWE POSTPONES MSG SHOW FOR THE SECOND TIME
Madison Square Garden has announced that a WWE house show has been postponed for the second time.
The show was originally supposed to be held on March 22. It was planned as part of WWE’s road to WrestleMania 36 and was going to feature an appearance by DX (Triple H, Shawn Michaels, X-Pac, and Road Dogg (Billy Gunn is currently working for AEW)).
MSG released a statement from WWE which said:
The WWE live event which was originally scheduled for Sunday, March 22 at Madison Square Garden, and previously rescheduled for Saturday, June 27, has been further postponed. Additional information will be made available in the near future. Original tickets will be honored for the new event date.
MOOSE ‘WINS’ TNA CHAMPIONSHIP
— IMPACT (@IMPACTWRESTLING) April 29, 2020
During night two of Impact Wrestling’s Rebellion event, Moose declared himself the new TNA World Champion.
— THE REAL WORLD CHAMPION (@TheMooseNation) April 29, 2020
This current ImpactWorld Champion is Tessa Blanchard but Tessa was unable to attend the tapings earlier in the month due to the current COVID-19 pandemic.
— THE REAL WORLD CHAMPION (@TheMooseNation) April 29, 2020
Tessa was due to defend her title in a triple threat match against Michael Elgin and Eddie Edwards. Edwards was also unable to attend due to the pandemic, which left Elgin promising that he would be crowned Impact World Champion. During Elgin asking to be announced champion by forfeit, Moose made his way to the ring with the old TNA Title before Hernandez joined the pair to begin a triple threat match. After a crazy back and forth affair, Moose hit the No Jackhammer Needed on Hernandez, covering him for the three count.
Moose then had ring announcer David Penzer announce him as the new TNA World Champion. One would assume that is their cover as they are without their champion for the forseeable.
For full results of Night Two of Rebellion, click here.
THE ROCK ANNOUNCES TITAN GAMES SEASON TWO
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Lots of fun hype regarding my surprise sports announcement I’ll share later today. I’m excited and super grateful we were able to pull it all together during these times. Meet me at 615pm EST today on IG LIVE. We’ll share a much needed @teremana 🥃 cocktail and chop up the good news. See ya at 6:15 👊🏾
Last night The Rock took to Instagram to announce season two of The Titan Games.
The season kicks off with a two-hour show on June first. All episodes of this season were recorded before the COVID-19 pandemic.
BECKY LYNCH TO APPEAR IN SEASON FIVE PREMIERE OF SHOWTIME’S BILLIONS
— WWE’s The Bump (@WWETheBump) April 29, 2020
On this morning’s episode of The Bump, it was revealed that RAW Women’s Champion, Becky Lynch will be making an appearance on the season five premiere of Billions.
The news was broken by both Becky Lynch and Billions co-creator Brian Koppelman, who both made an appearance. Koppelman is known to be a wrestling fan, specifically Becky. He has included a number of wrestling references in previous shows and has appeared wearing a Lynch shirt. During a panel event last year he announced that Lynch had an open invitation to appear.
MONEY IN THE BANK GAUNTLET MATCH ANNOUNCED FOR RAW
— WWE (@WWE) April 29, 2020
WWE has announced a gauntlet match for next week’s episode of Monday Night RAW.
The winner of the match will take Apollo Crews’ spot, after Apollo suffered an injury in this week’s United States title match against Andrade. The announcement came on this morning’s episode of The Bump. The participants of the gauntlet match are unknown at present.
MLW PARTNERS WITH INDEMAND
— Major League Wrestling (@MLW) April 29, 2020
MLW announced this morning that they have partnered with iNDEMAND for their future pay-per-view events. The deal begins this May, starting with MLW Battle Riot II on May 7.
See below for the full press release:
iNDEMAND to distribute Major League Wrestling events on Pay-Per-View
MLW teams with iNDEMAND to offer slate of programming
New York – Major League Wrestling (“MLW”) today announced a new distribution partnership with iNDEMAND to distribute a slate of special events starting this May on pay-per-view via iNDEMAND.
“iNDEMAND is a giant in the sports programming space and the perfect partner as the league continues to build its audience and distribution,” said MLW CEO Court Bauer.
Major League Wrestling will present three marquee events in the month of May, including:
All events have a start time of 8:00 pm ET. Additional replays will be available all month.
Learn more about watching MLW on iNDEMAND at: https://www.indemand.com/where-to-watch/
iNDEMAND is the leading transactional video-on-demand and pay-per-view (PPV) programming distributor, owned by Charter Communications, Comcast Cable, and Cox Communications.