WWE Shareholder Lawsuit Against Vince McMahon Over His WWE Return in 2023 & Sale to Endeavor Update – Delaware Court Orders WWE to Produce DOJ & SEC Records as Part of Merger Lawsuit

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. Former WWE Head of Talent Relations John Laurinaitis, former WWE co-CEO Stephanie McMahon, and current TKO CEO Ari Emanuel were among several people and companies that were issued subpoenas for deposition hearings for the lawsuit.

Post Wrestling and Wrestlenomics’ Brandon Thurston reported that a Delaware court judge issued a ruling on Friday ordering WWE directors and officers sued over the sale of the company and TKO merger to turn over documents related to federal investigations into McMahon’s conduct.

Thurston reported that the court had rejected arguments from attorneys for the defendants, including WWE President Nick Khan and Chief Content Officer Paul Levesque, that the material was irrelevant, was already produced, or was requested too late.

In regards to the documents, Vice Chancellor J. Travis Laster of the Delaware Court of Chancery had ordered that WWE executives and TKO must produce documents and communications previously provided by them or their agents to the U.S. Department of Justice and the Securities and Exchange Commission during those investigations. These investigations revolved around the multi-million dollar nondisclosure agreements (NDAs) that McMahon had signed with several former female employees that became public in 2022.

In his ruling for the order, Judge Laster wrote:

“Oral argument is not required. The relevance of the investigations to McMahon’s motivations is obvious. The nexus not only exists but is tight and direct. The claim that documents have been produced appears strained. The claim that the request came too late has been disproven. The requests are neither disproportionate nor overly burdensome. Control over documents encompasses documents in the possession, custody, or control of agents. If agents made some of the communications, or if agents currently possess or control access to them, then the defendants must collect and produce those communications, in addition to the communications they themselves possess.”

Thurston reported that Judge Laster’s ruling does not resolve the last of the discovery disputed between the parties and the plaintiffs have raised concerns about potential spoliation, deletion or loss of relevant communications records, including WWE directors use of the messaging app Signal which features an auto-delete function. The plaintiffs reportedly have asked for the judge to order Khan, Levesque, Emanuel, and former WWE executive Brad Bloom to take screenshots showing how Signs was used on their devices. The plaintiffs reportedly also have requested for the defendants to produce those screenshots to determine what records may no longer exist.

Thurston reported that this lawsuit is currently scheduled to go to trial in June of 2026.