WWE has agreed to settle a class action lawsuit against investors who accused the company of misleading them when it comes to their business with Saudi Arabia and WWE will be paying $39 million to end it.
The $39 million figure is 18.2% of the damages investors were originally seeking. The lawsuit stems from WWE’s television deal in Saudi Arabia, or in this case, lack thereof. A final approval for the settlement in federal court in New York was approved by Judge Jed S. Rakoff according to Bloomberg Law.
Anyone who purchased WWE stock from February 7, 2019 through February 5, 2020 and lost money will be receiving some sort of a compensation. Those who either work with or have close ties to WWE will not get anything.
The biggest winner will the the law firm who spearheaded the case as they will get $7 million in attorney fees and an additional half a million in expenses.
