WWE has class action lawsuit against them from investors who have issues with the company’s business with Saudi Arabia. It is alleged that the company didn’t disclose important details that would have changed the company’s value.
The Saudi Arabia issue stems from the 2019 Crown Jewel event where Superstars were unable to leave the country for an additional 24 hours. The official reason was blamed on mechanical failure, but Hugo Savinovich said otherwise. WWE’s attorney has fired back at Savinovich several times.
The company saw a bit of a loss in court this week as the Wrestling Observer Newsletter reports that a judge denied WWE’s motion to throw out the case. It was ruled that there is enough in the allegations to be ruled true under those rules to dismiss.
The judge didn’t throw away the testimony which used the phrase “hostage situation.” That could also be bad for WWE if heard by a jury.
This case will carry on against WWE and now the company might end up calling Hugo Savinovich to the stand so he can tell his story under oath.