WWE Shareholder Derivative Suits Dismissed For Failure To Plead Demand Futility

Mealey's (November 11, 2020, 11:46 AM EST) -- NEW HAVEN, Conn. — A federal judge in Connecticut on Nov. 6 ruled that investors in three related shareholder derivative lawsuits filed against several of sports entertainment company World Wrestling Entertainment Inc.’s (WWE) senior executives and board of directors members have failed to sufficiently plead demand futility in bringing claims that the defendants breached their fiduciary duty by failing to disclose the renewal status of two lucrative television contracts in the Middle East and North Africa (MENA) market (Ryan Merholz, et al. v. Vincent K. McMahon, et al., No. 20-557, Daniel Kooi v. Vincent K. McMahon, et al., No. 20-743 and Rodney Nordstrom v. Vincent K. McMahon, et al., No. 20-904, D. Conn., 2020 U.S. Dist. LEXIS 208647)....