Delaware subpoenas widen WWE sale lawsuit over McMahon-Endeavor deal

More subpoenas have been issued in the Delaware Chancery Court lawsuit brought by WWE shareholders alleging that former chairman Vince McMahon steered the company's 2023 sale to Endeavor to preserve his control and shortchanged other potential buyers, court filings and scheduling notices show. The case, filed in November 2023 and led by the Ohio Laborers Pension Fund, is in the discovery phase and has generated a new round of depositions and document subpoenas in recent weeks.

Plaintiffs contend McMahon orchestrated the merger to remain in a position of power and that WWE executives and board members failed to conduct a competitive sale process or maximize shareholder value. Named as defendants alongside McMahon are WWE president and chief revenue officer Nick Khan, executive Paul Levesque, and former board members George Barrios and Michelle Wilson. The complaint seeks evidence that the sale process was structured to favor Endeavor, which acquired WWE and combined it with its UFC business.

Recent court scheduling notices show former WWE executive John Laurinaitis, who is not a defendant in the shareholder suit, was scheduled for a deposition by videoconference on September 26...