Vince McMahon Lawsuit Officially Dismissed – Vince McMahon might not have been having the best of months, but as of today, we know he has one fewer thing on his plate.
McMahon and former XFL Commissioner Oliver Luck motioned to settle the multi-million dollar lawsuit between the two parties back on June 20th, and now PWInsider is reporting that a judge officially dismissed the lawsuit on June 29th. PWInsider notes that both sides came to a confidential settlement and neither side will have to pay the legal fees of the other.
Luck sued McMahon and the XFL for wrongful termination and sought $24 million in unpaid financial compensation. This led to McMahon filing a countersuit, saying that the XFL terminated Luck “for cause,” saying Luck violated the league’s policy against hiring players with off-field controversies after signimng former NFL Wide Receiver Antonio Callaway, who was cited for marijuana possession in 2018.
Back on June 20th, Wrestlenomics’s Brandon Thurston broke the news that both parties in the lawsuit “have amicably resolved this matter, and wish each other well in future endeavors,” when filing for the now-granted dismissal.
With the lawsuit no longer hanging over his head, McMahon can now focus on the current WWE board of directors investigation into a series of hush money payments that the WWE chairman & CEO made to former female employees, paying out over $12 million in the last 16 years. McMahon has since stepped down as CEO, with his daughter Stephanie taking over in the interim. Despite the investigation, McMahon still maintains control over the company’s creative direction.
The bombshell reports about McMahon’s non-disclosure agreements and allegations of abuse and harassment led to a dip in the WWE stock, and the company is currently being investigated by numerous law firms to determine if it breached fiduciary responsibilities to shareholders, or even violated securities laws in its handling of the investigation.