NEW YORK, Feb. 18, 2023 (GLOBE NEWSWIRE) —

WHY: Rosen Law Firm, a global investor rights law firm, continues to investigate potential securities claims on behalf of shareholders of World Wrestling Entertainment, Inc. WWE based on allegations that WWE may have disclosed materially misleading business information to the investing public.

SO WHAT: If you have purchased WWE Securities, you may be entitled to compensation without payment of expenses or costs through a contingency fee arrangement. Law firm Rosen is preparing a class action lawsuit to recover investor losses.

WHAT TO DO NEXT: To participate in the prospective class action lawsuit, go to https://rosenlegal.com/submit-form/?case_id=7052 or call Phillip Kim, Esq. toll free at 866-767-3653 or by email pkim@rosenlegal.com or cases@rosenlegal.com for information about the Class Action.

WHAT IS THIS ABOUT: on June 15, 2022, The Wall Street Journal published an article titled “WWE Board Probes Secret $3 Million Hush Pact by CEO Vince McMahon, Sources Say,” which revealed that “[t]The board of directors of World Wrestling Entertainment Inc. [] is investigating a secret $3 million settlement that longtime CEO Vince McMahon agreed to pay to a departing employee with whom he allegedly had an affair, according to documents and people familiar with the board’s investigation.[t]The board’s investigation, which began in April, has uncovered other, older non-disclosure agreements covering allegations by former female WWE employees of misconduct by Mr. McMahon and one of his top executives, John Laurinaitis, WWE’s director of talent relations. As a result of this news, WWE’s stock price fell $2.31 per share, or 3.4%, to close at $64.87 per share on June 16, 2022, the next full trading day.

On June 17, 2022, prior to the close of trading, WWE issued a press release titled “WWE® & Board of Directors Joint Release” announcing that “a special committee of the Board of Directors has approved a…