Settlement Proposed in WWE Merger Class Action Lawsuit
A proposed settlement of $147.5 million has been reached in a stockholder class action lawsuit related to the merger between World Wrestling Entertainment, Inc. (WWE) and Zuffa Parent, LLC on September 12, 2023. The case is being handled by Block & Leviton LLP and Bernstein Litowitz Berger and Grossmann LLP in Delaware's Court of Chancery. The settlement involves claims from shareholders who exchanged WWE Class A shares for TKO Group Holdings Inc. (TKO) common stock as part of the merger transaction. The proposed resolution includes a cash payout to affected shareholders, with details outlined in an agreement available online at www.WWEMergerLitigation.com. If approved by the court on November 30, 2026, it will resolve all claims brought against defendants including WWE executives and directors. The hearing will also assess whether the settlement is fair and reasonable to affected shareholders. The case excludes certain individuals and entities as defined in the full notice of pendency available online.
Tickers: $TKO
Topics: merger litigation stockholder class action WWE merger with TKO