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Former WWE Boss Vince McMahon Reaches A Deal With The SEC Over Sexual Misconduct Settlements

Former WWE Boss Vince McMahon Reaches A Deal With The SEC Over Sexual Misconduct Settlements
Vince McMahon (Photo: Airman 1st Class Nicholas Pilch, Public domain, via Wikimedia Commons)
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STAMFORD, CT (CelebrityAccess) — The Securities and Exchange Commission (SEC) announced a settlement with Vince McMahon, the former Executive Chairman and CEO of World Wrestling Entertainment Inc. (WWE), related to allegations that he failed to disclose the use of company funds to settle claims of misconduct.

According to the SEC, McMahon signed two settlement agreements in 2019 and 2022 on behalf of himself and WWE without informing WWE’s Board of Directors, legal department, accountants, financial reporting personnel, or auditor.

The SEC contended that these undisclosed settlements circumvented WWE’s internal accounting controls and contributed to what it characterized as material misstatements in the company’s disclosures to investors and regulators in 2018 and 2021.

As part of the settlement, McMahon consented to the SEC’s findings that he violated provisions of the Securities Exchange Act by bypassing WWE’s internal accounting controls and providing inaccurate information to the company’s auditors. The SEC also determined that McMahon’s actions caused WWE to violate reporting and record-keeping requirements under the Exchange Act.

Without admitting or denying the SEC’s findings, McMahon agreed to a cease-and-desist order to prevent future violations. He also agreed to pay a $400,000 civil penalty and reimburse WWE $1,330,915.90.

WWE was acquired by Endeavor Group Holdings in 2023 and merged with the Ultimate Fighting Championship (UFC) to form TKO Holdings. McMahon initially served as executive chairman of the new company but stepped down in 2024 following allegations of misconduct brought forward by a former employee.

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