WWE’s Shane McMahon has been named in a lawsuit aimed at financial services company Ideanomics, where he is listed as a vice chairman of the board.
Ideanomics is a company which offers green next-generation financial services including artificial intelligence and blockchain. At one point Shane lent the organisation $3 million and owned over $2.5 million of Ideanomics stock as of November 2019. The case has been brought in New York.
Executives at the company find themselves in a similar situation to the executives at WWE, again, shareholders allege financial mismanagement, in a quote from the filed court documents:
For breaches of their fiduciary duties as controlling shareholder, directors and/or officers of Ideanomics, unjust enrichment, abuse of control, gross mismanagement, waste of corporate assets, and violation of Section 14(a) of the Securities Exchange Act of 1934.
Shane nor WWE has commented on the situation as of yet.