World Wrestling Entertainment said Tuesday an independent board probe of former CEO Vince McMahon showed additional unrecorded payments of 5 million, bringing the total to 19.6 million.
McMahon resigned from all positions at WWE on July 22 after news broke and the company acknowledged they were investigating him for misconduct and subsequent payouts to women. He remains a stockholder with a controlling interest in the company.
Last month — WWE noted in an SEC filing today — it determined that certain payments McMahon made from 2006 through 2022 (including amounts paid and payable in the future totaling 14.6 million) “were not appropriately recorded as expenses in the company’s consolidated financial statements. Since then, it also found two additional payments totaling 5 million, unrelated to the allegations that led to the Special Committee investigation, that McMahon made in 2007 and 2009, and that should have been recorded in the Company’s consolidated financial statements.”
It said its Special Committee investigation is ongoing.
McMahon resigned from all positions at WWE on July 22 after news broke and the company acknowledged they were investigating him for misconduct and subsequent payouts to women. He remains a stockholder with a controlling interest in the company.
Last month — WWE noted in an SEC filing today — it determined that certain payments McMahon made from 2006 through 2022 (including amounts paid and payable in the future totaling 14.6 million) “were not appropriately recorded as expenses in the company’s consolidated financial statements. Since then, it also found two additional payments totaling 5 million, unrelated to the allegations that led to the Special Committee investigation, that McMahon made in 2007 and 2009, and that should have been recorded in the Company’s consolidated financial statements.”
It said its Special Committee investigation is ongoing.
- 8/9/2022
- by Jill Goldsmith
- Deadline Film + TV
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