The agency announced the settlement Friday morning.
CEO Vince McMahon relating to undisclosed payments to an employee and an independent contractor with whom he allegedly had relationships with.The SEC charges stem from two settlement agreements McMahon made, one signed in 2019 and another in 2022. The agreements were made on behalf of himself and the company, but the SEC said that he did not disclose them to the WWE board. McMahon was CEO at the time.
5 million in exchange for the independent contractor’s agreement to not disclose her allegations against McMahon and her release of potential claims against WWE and McMahon.”“Company executives cannot enter into material agreements on behalf of the company they serve and withhold that information from the company’s control functions and auditor,” said Thomas P. Smith Jr., Associate Regional Director in the New York Regional Office of the SEC, in announcing the settlement.
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