Law Firm Pursuing Lawsuit Over Sale of WWE To Endeavor
A law firm is looking to file a lawsuit over the recent purchase of WWE by Endeavor.
Julie & Holleman LLP sent out the following press release today to announce that they are investigating the proposed deal:
EDR SPECIAL ALERT: Endeavor Shareholders Interested in Pursuing Claims Regarding Merger with WWE Should Contact Shareholder Rights Firm Julie & Holleman LLP
Shareholder rights law firm Julie & Holleman LLP is investigating the proposed merger between Endeavor Group Holdings, Inc. (NYSE: EDR) and World Wrestling Entertainment, Inc. (NYSE: WWE), whereby the two entertainment giants will combine to form a new public company.
Julie & Holleman LLP is a boutique law firm that focuses on shareholder litigation, including derivative actions, mergers and acquisitions cases, securities fraud class actions, and corporate investigations. (PRNewsfoto/Julie & Holleman LLP)
To learn more about the investigation and potential legal claims, click here.
Endeavor is a global sports and entertainment company whose portfolio consists of the mixed martial arts organization UFC, sports and media company IMG, and entertainment agency WME. Endeavor is controlled by private equity firm Silver Lake, which holds about 70% of the company’s voting power. WWE is also a controlled company, with the majority of its voting power owned by Vincent K. McMahon.
Following the merger, which is expected to close in the second half of 2023, existing Endeavor shareholders will own 51% of the new company, and existing WWE shareholders will own 49% of the company.
Julie & Holleman is investigating potential legal claims regarding the fairness of the merger terms and potential conflicts of interest. Among other things, Silver Lake may have interests that diverge from other shareholders’ interests, and it could be using its controlling stake to extract unfair benefits. Julie & Holleman is also concerned that the proposed merger might have driven the sale of its IMG business to another private equity firm.
If you would like more information about Julie & Holleman’s investigation, or about the acquisition in general, please contact W. Scott Holleman by email at [email protected] or by telephone at (929) 415-1020.
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