Delaware Judge Orders WWE Docs on McMahon Probes in Merger Suit

A Delaware judge has ordered directors and officers of World Wrestling Entertainment to produce documents related to federal investigations into former executive Vince McMahon, as part of a shareholder lawsuit challenging the company's 2023 merger with Endeavor's UFC division to form TKO Group Holdings.

Vice Chancellor J. Travis Laster of the Delaware Court of Chancery issued the ruling on Friday, directing WWE executives and TKO to turn over records and communications previously provided to the U.S. Department of Justice and the Securities and Exchange Commission. The order stems from a class-action lawsuit filed in November 2023 by shareholders who allege that McMahon, then WWE's chairman, manipulated the merger process to secure his continued leadership role amid mounting scandals, rather than seeking bids that would maximize value for investors.

The plaintiffs contend that WWE's internal review of McMahon's conduct was inadequate and that he predetermined the deal with Endeavor to protect his position. They argue the federal probes are essential to understanding his motivations during the negotiations. Laster rejected objections from the defendants, ruling that oral...