Vince McMahon reaches deal with SEC over sexual misconduct claim settlements
Vince McMahon reaches deal with SEC over sexual misconduct claim settlements
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Former WWE CEO agrees to penalty over undisclosed settlement agreements worth $10.5m with two women. The Securities and Exchange Commission (SEC) says that it has settled charges against the former World Wrestling Entertainment (WWE) CEO Vince McMahon over his failure to disclose to the sports entertainment company’s board and others that he signed two settlement agreements worth $10.5m with two women in order for them not to reveal potential claims against himself and WWE.
McMahon resigned from WWE’s parent company in January 2024 after a former employee filed a federal lawsuit accusing him and another former executive of serious sexual misconduct. At the time, McMahon stepped down from his position as executive chairman of the board of directors at WWE’s parent company, TKO Group Holdings. He continued to deny wrongdoing following the filing of the lawsuit.
McMahon stepped down as WWE’s CEO in 2022 amid an investigation into allegations that match those in the lawsuit. The SEC said on Friday that one agreement was signed in 2019 and the other in 2022. One agreement required McMahon to pay a former employee $3m in exchange for the former worker’s agreement to not disclose her relationship with McMahon and her release of potential claims against WWE and McMahon.
The other agreement obligated McMahon to pay a former WWE independent contractor $7.5m in exchange for the independent contractor’s agreement to not disclose her allegations against McMahon and her release of potential claims against WWE and McMahon, the SEC said.
