The settlement amount in World Wrestling Entertainment’s shareholder suit was revealed on Monday in TKO’s 10-Q report to the Securities Exchange Commission.
According to the report, WWE’s portion of the settlement was $105 million. Seventy-Five million dollars of the settlement was covered by insurance. WWE’s total included indemnification costs for directors who were also defendants in the suit.
WWE and shareholders settled the suit on June 9, a day before the trial was scheduled to begin in Delaware’s Court of the Chancery.
Days before the settlement, Judge J. Travis Laster blasted WWE and TKO officials and executives for repeatedly violating court and federal rules and orders by deleting messages on the Signal app. WWE general counsel, legal reps, the court in the shareholder case and others had ordered executives including Vince McMahon, Nick Khan, Paul Levesque, Stephanie McMahon and Ari Emanuel to turn off auto-deleting on their phones and to keep messages that were related to the case.
At some points, on the day of the order, executives deleted text messages anyway. Some of the messages were evidence in the federal criminal investigation into sex assault and sexual trafficking allegations into Vince McMahon.
The report didn’t state how much TKO paid directors in indemnification.
