WWE to restate results after finding unrecorded expenses tied to Vince McMahon
2022.07.25 17:37
Budrigannews.com – World Wrestling (NYSE:WWE) Entertainment Inc said on Monday it would restate some of its financial statements after finding certain unrecorded expenses made by former Chief Executive Officer Vince McMahon since 2006.
The expenses total $14.6 million and financial statements for the years ended 2019, 2020 and 2021, as well as the first quarter of 2022, would be revised, the company said in a regulatory filing.
McMahon, who will make the payments, on Friday announced his retirement as CEO and chairman, about a month after stepping back from those roles due to an investigation into his alleged misconduct.
He was being investigated by the company’s board for agreements to pay $12 million over the past 16 years to suppress allegations of sexual misconduct and infidelity, the Wall Street Journal had previously reported.
