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WhatCulture Wrestling

NEWS - Vince McMahon SUED - WWE Stock Scandal! AEW Announces First Stadium Show In New York City! ACH Retires From Wrestling! AEW Teasing New Championship?!

WhatCulture Wrestling

WhatCulture Wrestling

Sports & Recreation, Sports, Wrestling

4.41.6K Ratings

🗓️ 17 June 2021

⏱️ 16 minutes

🧾️ Download transcript

Summary

Today's wrestling news, including...


Vince McMahon SUED - WWE Stock Scandal!

AEW Announces First Stadium Show In New York City!

ACH Retires From Wrestling!

AEW Teasing New Championship?!


ENJOY!


Follow us on Twitter:

@AdamWilbourn

@AndyHMurray

@WhatCultureWWE


For more awesome content, check out: whatculture.com/wwe



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Transcript

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0:00.0

Hello there, my very good friends on today's wrestling news, Vince McMahon and other top

0:13.0

WWE executives are being sued for a $300 million sale of stock.

0:18.6

All elite wrestling is coming to New York City.

0:23.0

AWR teasing a new title, and ACH has announced his retirement.

0:28.7

I'm Anna Wilbon, and I'm Andy Murray, and this is the news.

0:33.8

Alright, we're going to kick things off with some legal stuff.

0:38.3

Vince McMahon, Stephanie McMahon and Triple H are among a bunch of WWE executives who

0:44.5

are being sued relating to a bunch of different stock sales, also named in this lawsuit, are

0:51.3

George Barry, Austin Michelle Wilson, who are no longer with WWE, they left last year.

0:55.8

But the crux of the issue is that the accusers are claiming that they accused sold over $300

1:03.0

million in WWE stock, having failed to disclose knowledge of key broadcasting deals in the

1:10.5

Middle East, collapsing, basically.

1:13.4

So the crux of all of this is that WWE officials are alleged to have told investors that they

1:20.2

were going to be renewing a broadcasting agreement with this group.

1:23.5

It's the Orbit Showcase Network in Reads, they led them to believe that they were going

1:28.6

to renew this deal, but that was actually impossible because the network here is actually getting

1:33.9

out of the business, or has gotten out of the business of broadcasting sports, and there

1:38.7

was also some misleading information passed on regarding finding a replacement broadcaster

1:44.5

as well.

1:45.5

So shady things going on here, allegedly, in this here lawsuit, Vince McMahon sold around

1:53.3

3.5 million shares worth around 280 million, sorry, yeah, yeah, 280 million got, why can

2:00.4

I not speak today?

...

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