Shareholder Alert: Robbins LLP Reminds Investors It Is Investigating World Wrestling Entertainment, Inc. (WWE) for Misleading...
April 30 2020 - 7:21PM
Business Wire
Shareholder rights law firm Robbins LLP reminds investors that
it is investigating World Wrestling Entertainment, Inc. (NYSE: WWE)
for alleged violations of the Securities Exchange Act of 1934 and
whether the Company's officers and directors breached their
fiduciary duties to shareholders. WWE is an integrated media and
entertainment company that engages in the sports entertainment
business.
If you suffered a loss as a result of WWE's misconduct, click
here.
World Wrestling Entertainment, Inc. (WWE) Loses Saudi Media
Rights Deal
In recent years, WWE had entered into a multiyear television
distribution rights agreement with Saudi-controlled Orbit Showcase
Network ("OSN") and a partnership with the Saudi General Sports
Authority to host live events in Saudi Arabia. However ideological
differences between the Company and the Saudi government led to the
Saudi government's refusal to pay millions of dollars it owed to
WWE and OSN's early termination of its agreement with WWE. As a
result, on February 6, 2020, WWE disclosed its disappointing
financial performance due to its inability to secure a favorable
broadcasting deal with the Saudi government, revealing that the
Saudi media rights deal was no longer part of WWE's financial
forecast. Following all of its disclosures, WWE's stock traded as
low as $32.38 on March 12, 2020, representing a staggering 67%
decline from its class period high of more than $100.
World Wrestling Entertainment, Inc. (WWE) Shareholders Have
Legal Options
Contact us to learn more: Leo Kandinov (800) 350-6003
lkandinov@robbinsllp.com Shareholder Information Form
Robbins LLP is a nationally recognized leader in shareholder
rights law. The firm represents individual and institutional
investors in shareholder derivative and securities class action
lawsuits, and has helped its clients realize more than $1 billion
of value for themselves and the companies in which they have
invested. Click here to receive free alerts from Stock Watch when
companies engage in wrongdoing.
Attorney Advertising. Past results do not guarantee a similar
outcome.
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Leo Kandinov Robbins LLP 5040 Shoreham Place San Diego, CA 92122
lkandinov@robbinsllp.com (619) 525-3990 or Toll Free (800) 350-6003
www.robbinsllp.com
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