Lawsuit Filed Against WWE, Bella Vows Stephanie Will Pay, Smackdown Fallout

- The Law Office of Robbins Arroyo LLP announced on Friday they have filed a class action lawsuit against WWE. The suit is filed on behalf of investors that purchased WWE’s stock between October 31, 2013 and May 16, 2014. The complaint seeks relief on behalf of the plaintiffs based on accusations of the company making false and misleading statements regarding their domestic TV licensing deal. Click here for the press release.

- Dot com has a new kayfabe Q&A with Brie Bella to enhance her angle with Stephanie McMahon. Click here to read it.

- This week’s episode of Smackdown Fallout is online at this link. You can also watch in the video embedded below:

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  • Simon Veitch

    You’ve got to be kidding me right? When you play the stock market it’s all about risk, and no company would ever talk down their worth when negotiating a deal so what could they do. In the end they got a better deal, sure it’s nothing like what they were hoping for, but it’s still better than what they had.

    Anyone who had done any research into the negotiations could tell they wouldn’t get what they expected, hell here on WNW they broke the story on how negotiations were going and companies dropping out of negotiations, that alone should have been an indicator and this isn’t even a finance website.

    • creature hater

      exactly, vince McMahon was trying to get th best tv deal possible but pro wrestling has a stigma on it that ajax won’t remove properly. avertisers hate pro wrestling because the fan base is largely viewed as being uneducated, low income individuals who could never legally afford to purchase their products.

    • John

      So you are saying WWE mislead their investors?? Yeah, that’s exactly the point of the lawsuit! At no point were shareholders informed that negotiations weren’t going well. Who would you believe, an article on a wrestling website or the WWE themselves?

      • Simon Veitch

        When you go to buy a new car, or a new phone, or anything, who do you believe, the guy who’s job it is to make sure that you buy anything, because a sale is a sale and he’ll sell his product because it’s the best, or do you actually research your options and get feedback and make an informed decision.

  • Allen Massey

    this suit will end up getting laughed out of court. when you play the stock market. you have to expect crap to happen

    Heck when the entire stock market has one of those days when weve had 700 Point drops. do these firms launch class action suits against every publically traded company

    Nope they dont

    this lawfirm is just trying to make a name for itself

  • Michael

    So can I sue CM PUNK for no WWE Ice Cream Bars? Ridiculous.

    • Scott Davies

      I think we should lol.

  • Lefty Tosser

    Not quite sure why everyone thinks this is such a trivial matter. VKM touted a big TV deal, and it didn’t come to play. He went on and on and on about how big the Network was going to be, and so far it has only hurt the overall revenue of the company. This could potentially be a very big deal to stockholders. If you think the current cut backs are a big deal, just wait until this either goes to court OR gets settled.

    • Simon Veitch

      You can’t blame Vince for the network though. The network is everything Vince promised, it’s got all the content promised and runs smoother than we could have hoped, can’t blame the creator for a tight ass fan base that would rather illegal streams over $10 PPV’s

      • Lefty Tosser

        But investors can blame VKM for his over hype promotion and over stating his expectations. That is what the lawsuit is about. False hype by the guy in charge. Vince is a salesman, plain and simple. His biggest problem is in delivering what he is trying to sell. The fan base has nothing to do with it. He expected more people to be in the “must have” category. If he had been more honest up front and stated that he thought the number of subscribers would be XXX AFTER the foreign markets were on board, then investors could have made their decisions based on that information. He did not do that. He stated upfront that the Network would have XXX within 6 months. He also hyped the heck out of the new TV contract, which also turned out to be slanted information.
        Lesson to investors: Never invest in a company that the top guy is 100% salesman.

      • John

        So Vince is blameless for setting the expectations of the network way too high? They had no change whatsoever of hitting 1 million subscribers for WrestleMania. They are losing millions on this thing but hey, let’s all blame the fans for not flocking to Vince’s latest creation.

        • Simon Veitch

          That’s quite literally what it is, the WWE Network has been exactly as it was described, exactly as advertised, and worked better than most of us expected it to, but people aren’t willing to pay a measly $10 when they can stream PPV’s illegally and download old PPV’s for nothing. If even half of WWE’s PPV buying audience invested in the network, those fans would save money and Vince would hit those numbers

          • John

            What do you mean half of WWE’s PPV audience? Nobody watched the PPV’s! They averaged 150,000 domestic buys which is less than 5% of the average RAW audience. Not everybody who watches RAW watches the PPV’s, which means the Network isn’t worth it.

  • J Vomkrieg

    This is the same legal system that didn’t hold bankers responsible for the Global Financial Crisis?

    Seems legit.

  • Patrick

    you have to be kidding me? when you play the stock market your taking a risk…if you can’t handle a loss then you shouldn’t play the stock market.