WWE settled a $39 million class action lawsuit in an out of court settlement. It was regarding their dealings with Saudi Arabia.
The lawsuit alleged they that intentionally withheld information to their stock holders regarding their relationship with Saudi Arabia. This was also applied to the fact that WWE Superstars were stuck in Saudi Arabia for a whole day due to a “mechanical failure.”
On Wrestling Observer Radio, Dave Meltzer discussed the lawsuit. He explained how settling such a large amount of money was uncharacteristic of Vince McMahon.
“At one point I think I counted 21 different lawsuits that all copied the original one and with high power people too. Discovery was coming. They had witnesses. I know some of the things that were going on behind the scenes and it was gonna be — you know nothing that was going to come out wasn’t something we didn’t already know and wasn’t already reported, but it was all going to come out.”
“I think that in the end, WWE settled for $39 million which is a lot of money. That’s more than the Owen Hart case, that’s double the Owen Hart case. I mean people are thinking it’s settled for nothing. This is a large amount of money. They do have insurance to cover it, but their insurance premiums are going to go through the roof.”
“If you know Vince, Vince is only going to settle at last resort. You know if you know Vince when it comes to all these different suits he’s been in there are very few settlements and the ones that are, Martha Hart they had to, but they might do very small settlements in different cases, but I mean there’s never been one on this level, never close to this dollar amount in history.”
It was also said that McMahon received “emails and texts all night” while were stuck in Saudi Arabia.
h/t to Ringside News for the transcription.
