Vince McMahon made headlines on Wednesday afternoon when The Wall Street Journal broke the news that WWE’s Board of Directors was officially investigating his alleged actions of paying a former WWE employee $3 million as part of a deal to keep her quiet about an affair the two had while she was in the company. The investigation has since uncovered more deals McMahon has allegedly made involving nondisclosure agreements and hush money, covering up his own actions as well as those of WWE Head of Talent Relations John Laurinaitis. WWE told the WSJ that it was complying with the investigation and taking the accusations seriously, while McMahon and Laurinaitis declined to comment. Jerry McDevitt, McMahon’s attorney, told the paper that no money had been given when the former employee, a paralegal, left the company.
As of March, Vince McMahon controls about 80% of WWE voting power despite owning just over one-third of the company.Shares held by Vince, Linda, and Stephanie are mostly class B shares which give each of their shares 10x voting power over class A shares held by all others. pic.twitter.com/bRwQiELP9a
