WWE Escapes Records Suit Over Relationship to XFL

March 10, 2020, 10:25 PM

A World Wrestling Entertainment Inc. shareholder is abandoning its quest for documents that it alleged might show Chairman Vince McMahon diverted resources to the recently revived XFL.

The Oklahoma Firefighters Pension and Retirement System on Tuesday moved to drop its months old lawsuit against the Stamford, Conn.-based company, which previously sought dismissal of the case.

The fund, in its filing, didn’t elaborate on the decision. It had pushed to receive internal WWE records in a bid to determine whether McMahon breached his duty to investors by transferring XFL-related trademarks to a separate company, Alpha Entertainment.

McMahon re-established the U.S. football ...

To read the full article log in.

Learn more about a Bloomberg Law subscription.