WWE Shareholder Lawsuit Against Vince McMahon Over His WWE Return in 2023 & Sale to Endeavor Update – McMahon, Ari Emanuel, Nick Khan, & Paul “Triple H” Levesque Set To Testify In WWE Merger Trial

As noted before, a group of WWE shareholders filed a lawsuit in November of 2023 against former TKO and WWE Executive Chairman Vince McMahon over claims that McMahon had engaged in a “sham sale process” for WWE’s sale to Endeavor. WWE executives were ordered by the court this past December to turn over documents related to federal investigations into McMahon’s conduct. McMahon, WWE CCO Paul “Triple H” Levesque, WWE President Nick Khan, and others have also been accused of destroying evidence related to the lawsuit. A judge had ruled this past March for redactions in the lawsuit to be removed.

Post Wrestling and Wrestlenomics’ Brandon Thurston reported that nearly every major TKO and WWE executive involved in the TKO merger is currently scheduled to take the stand next month.

Thurston reported that McMahon, TKO CEO and Chairman Ari Emanuel, TKO COO and President Mark Shapiro, Khan, and Levesque are among the witnesses slated to testify in the shareholder lawsuit trial, which is scheduled to begin on June 8th in the Delaware Court of Chancery.

Thurston reported that their names and others appeared on a list of witnesses the parties had submitted as part of their pre-trial order that was filed earlier today.

Thurston also reported that both plaintiffs and defendants plan to call McMahon and Emanuel as live witnesses in the courtroom. The plaintiffs reportedly also list Shapiro, Khan, and Raine banker Jeff Sine, who advised WWE on the deal.

Thurston also reported that a judgement is not expected to be made immediately at the trial’s conclusion and instead presiding judge Vice Chancellor J. Travis Laster will likely issue a written opinion some months after the trial ends.

Thurston also reported that a joint pre-trial proposed order indicates hat pseudonyms will be used to refer to any of the women with whom McMahon signed NDAs. This joint pre-trial order reportedly is awaiting formal approval from Laster.

Current list of witnesses scheduled to be called in live or by deposition in court:

Plaintiffs intend to call live:

• Vince McMahon, then-WWE/TKO Executive Chairman
• Ari Emanuel, TKO CEO & Chairman, and then-Endeavor CEO
• Mark Shapiro, TKO President & COO, Endeavor President
• Jeffrey Sine, Raine banker
• Frank Riddick, then-WWE Chief Financial Officer and board member
• Andrew Schleimer, TKO CFO and then-UFC CFO
• Brendan Houlihan, expert witness
• James Canessa, expert witness

Plaintiffs may call live or by deposition:

• Jeffrey Speed, then-WWE board member
• Stephanie McMahon, then-WWE executive and board member
• Marty Patterson, Liberty Media President & CEO
• Steve Pamon, then-WWE board member

Defendants intend to call live (several witnesses also appear on the plaintiffs’ list):

• George Barrios, then-WWE board member and former WWE executive
• Brad Blum, former WWE executive
• Ari Emanuel
• Daniel Lee, Moelis Managing Director (an advisor in the process)
• Paul Finger, JP Morgan Managing Director (advisor)
• Nick Khan, WWE President and then-board member
• Steve Koonin, TKO board member, then-WWE board member
• Paul Levesque, WWE Chief Content Officer, then-WWE board member and executive
• Vince McMahon
• Frank Riddick
• Andrew Schleimer
• Mark Shapiro
• Jeffrey Sine
• Michelle Wilson, then-WWE board member and former WWE executive
• Mark Zhu, TKO Chief Strategy Officer and then-Endeavor executive
• Doug Perlman, expert witness
• Professor Steven Salaga, expert witness
• Professor David C. Smith, expert witness
• Matthew Archer, shareholder plaintiff
• Dennis Palkon, shareholder plaintiff