Another law firm has filed a class-action lawsuit against WWE. As previously reported, the company is facing a few lawsuits over claims that they failed to accurately represent their ability to negotiate a favorable TV deal. Now the firm of Levi & Korsinsky has joined in, filing suit against WWE for the same reason.
The lawsuit claims that “throughout the Class Period defendants violated securities laws by failing to disclose the Company’s true ability to command a premium fee in upcoming negotiations to renew its television license agreement. On May 16, 2014, the Company disclosed that it had reached a multiyear deal with NBCUniversal for its television programs Raw and SmackDown, stating that the annual value of its television distribution agreements is expected to reach $200 million, far below investor expectation.”
If you suffered a loss you have until September 23, 2014 to request that you be appointed as lead plaintiff, though the ability to share in recovery from the suit doesn’t require that.
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