As previously reported, WWE shareholders filed a lawsuit against WWE in November 2023 regarding the TKO merger. The lawsuit alleges that WWE's investigation into former Chairman Vince McMahon was a "sham" and that he manipulated the sale process to benefit himself.
According to Brandon Thurston from POST Wrestling, Vince McMahon, Ari Emanuel, Nick Khan, and Triple H are among those expected to testify as witnesses in the trial. The report also mentions that Mark Shapiro will be among the witnesses, along with several others listed in a pre-trial order. Stephanie McMahon is included in the list of names that the plaintiffs may call to testify, either live or via deposition.
The report indicates that both plaintiffs and defendants intend to call McMahon and Emanuel as live witnesses in court. Notably, McMahon has separate legal representation from the rest of the defendants, which include Khan, Triple H, George Barrios, and Michelle Wilson. Although WWE and TKO are not direct parties to the lawsuit, it is believed that they are likely funding the legal expenses for the defendants, excluding McMahon.
The trial is scheduled to begin on June 8th in the Delaware Court of Chancery. The lawsuit claims that McMahon orchestrated the deal with Endeavor for them to acquire WWE and merge it into TKO to ensure his continued presence within the company. This occurred after allegations of sexual misconduct were brought against him in the summer of 2022. McMahon had initially retired from the company amid these allegations but later forced his way back onto the Board of Directors to facilitate the sale of WWE.
McMahon ultimately exited WWE and TKO shortly after being sued by Janel Grant, who alleged that he sexually abused, assaulted, and trafficked her. That lawsuit remains ongoing.
The full list of individuals expected to testify is as follows:
Plaintiffs Intend To Call Live:
* Vince McMahon
* Ari Emanuel
* Mark Shapiro
* Jeffrey Sine, Raine banker
* Frank Riddick, then-WWE Chief Financial Officer and board member
* Andrew Schleimer, TKO CFO and then-UFC CFO
* Brendan Houlihan, expert witness
* James Canessa, expert witness
Plaintiffs May Call Live Or By Deposition:
* Jeffrey Speed, then-WWE board member
* Stephanie McMahon
* Marty Patterson, Liberty Media President and CEO
* Steve Pamon, then-WWE board member
Defendants Intend To Call Live (Several Also Appear Plaintiffs’ List):
* George Barrios, then-WWE board member and former WWE executive
* Brad Blum, former WWE executive
* Ari Emanuel
* Daniel Lee, Moelis Managing Director (an advisor in the process)
* Paul Finger, JP Morgan Managing Director (advisor)
* Nick Khan
* Steve Koonin, TKO board member, then-WWE board member
* Triple H
* Vince McMahon
* Frank Riddick
* Andrew Schleimer
* Mark Shapiro
* Jeffrey Sine
* Michelle Wilson, then-WWE board member and former WWE executive
* Mark Zhu, TKO Chief Strategy Officer and then-Endeavor executive
* Doug Perlman, expert witness
* Professor Steven Salaga, expert witness
* Professor David C. Smith, expert witness
* Matthew Archer, shareholder plaintiff
* Dennis Palkon, shareholder plaintiff
