There is a lot going on behind the scene at WWE and one law firm wants to take a look at Vince McMahon’s books.
Levi & Korsinsky is a securities law firm and they have issued a warning to WWE investors about possible violations of securities law. In a statement released by the law firm, it is stated that:
“Levi & Korsinsky, LLP Notifies Investors of an Investigation Involving Possible Securities Fraud Violations by Certain Officers and Directors of World Wrestling Entertainment, Inc.”
The release also says WWE disclosed “a large decline in net income and cash flow generated as compared to the third quarter of 2018.” It also alleges that WWE used “unfavorable timing of working capital and lower operating performance” which caused this loss in profits.
WWE stock keeps falling and there is a reason for that. We’ll have to see where this ends up, but some people obviously want to know where the money is going.