Shane McMahon is a defendant in a lawsuit filed by Deborah Donoghue on March 14, 2016 for violating SEC rules on allegations of insider trading.
The plaintiff is seeking recovery of “short swing profits” regarding YOU On Demand stock when McMahon disposed for value of 7.010.000 shares of the YOU On Demand stock on January 31, 2014, and then purchased 24,6000 shares of YOU On Demand stock on May 22, 2015. Shane reportedly profited around less than $20,000 from the trades. Donoghue is being represented by David Lopez.
McMahon is the founder and co-chairman of You On Demand. You can read the lawsuit in its entirety at this link.