Vince McMahon quit his job as WWE Chairman because he was involved in a scandals that, when combined, form a truly huge scandal. In fact, in several terms, it turned out that McMahon would have paid some of his former employees, very good money, let's talk about millions and millions of dollars, not to mention some intimate relationships he had with them, otherwise if they had talked, he would have fired them.
in the trunk. After putting all the pieces of the situation together, the WWE board has launched an investigation to try to understand the actual damage of the thing and apparently now this investigation has come to a conclusion as communicated by WWE itself.
During the third quarter 2022 earnings summary meeting, WWE announced that the investigation is complete and the Special Committee has been disbanded. The investigation cost WWE $ 19.4 million. Now, what WWE said about Vince's investigation.
WWE: "The investigation into Vince McMahon has ended"
"As previously announced, a Special Committee of independent members of the Board of Directors was formed to investigate the alleged misconduct of Vincent K.
McMahon, former Chairman and CEO of the Company, who resigned from all positions held with the Company on July 22, 2022 but remains a controlling shareholder and another executive, who is no longer with the Company. The Special Commission investigation is now complete and the Special Commission has been dissolved.
Management is working with the Board to implement the Special Committee's recommendations relating to the investigation. For the three- and nine-month periods ending September 30, 2022, the Company's consolidated pre-tax results include the impact of $ 17.7 million and $ 19.4 million, respectively, associated with certain costs related to investigation.
Please see the Company's SEC filings, including, but not limited to, its annual report on Form 10-K / A and quarterly reports on Form 10-Q / A and Form 10-Q for further details and risks in course on this matter." We recall Vince McMahon was involved in a scandals that, when combined, form a truly huge scandal.