COULD MCMAHON CON SPAWN WWE SHAREHOLDER SUIT? By now you probably know about Vince McMahon faking his death on a recent WWE episode. Since then, McMahon’s pro wrestling organization has taken to flying the company flag at half-staff at WWE headquarters in Connecticut, and is still pushing the concept on shows.
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CNBC’s Darren Rovell sorts out the borefest by asking the more practical question: “Is it a crime for the WWE to fake McMahon’s death? I don’t believe so. Because a police report wasn’t filed and McMahon isn’t creating any sort of phony documentation or cashing in on a life insurance policy, it doesn’t seem like there’s any exposure here.
“But I still think there’s a possibility the organization could be sued by a shareholder. By announcing that he is ‘presumed dead’ on their official Web site, they could be charged with misleading stockholders. There’s no evidence that a slew of people bought the McMahon news on Wall Street.
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“As of Monday’s close, WWE stock is down only 1.8 percent since the ‘accident.’ You’d think if McMahon really died, the thing would plummet. That being said, I think there could still be a claim.”
McMahon’s death would cause the stock to “plummet”? We’d think it’d be the other way around.
