Vince McMahon Walks Back WWE Coup, Sowing Split Among Investors

WWE Inc. investors leading litigation over chairman Vince McMahon’s surprise return are fighting over the path forward, after McMahon rescinded certain bylaw changes that would have seized power from the company’s board.

The dispute involves three groups of shareholders that sued McMahon this month—including a pension fund—after he ended his self-imposed exile, which began when he stepped down in July while facing a wave of sexual harassment and hush money allegations stretching back more than 15 years.

The lawsuits in Delaware’s Chancery Court accused McMahon of timing his comeback to seize control of upcoming negotiations over the WWE’s expiring media ...