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Federal agents searched and raided the home of Vince McMahon, the executive chairman and former CEO of World Wrestling Entertainment (WWE), last month in connection with an ongoing investigation into allegations of sexual misconduct, according to the company's quarterly report to the Securities and Exchange Commission.
According to the article, McMahon received a search warrant and a federal grand jury subpoena on July 17, 2023, as part of the inquiry that got underway last summer. The business added that it has received both voluntary and obligatory legal requests from federal law enforcement and regulatory organizations for records relating to the investigation and associated topics.
The probe is the result of claims that McMahon over the years paid millions of dollars to women who accused him of rape, sexual assault, and harassment. It has been discovered that a number of former WWE employees and entertainers signed non-disclosure agreements with McMahon. Several people have alleged that he used his position of authority and influence to intimidate or force them into having intercourse.
The government's inquiry will be concluded without any findings of misconduct, according to McMahon, who has denied any intentional wrongdoing. Additionally, it was stated that he underwent severe spinal surgery on July 21, 2023, and that he went on medical leave as a result. He will continue to serve as WWE's executive chairman, but he will hand off responsibility to other executives.
McMahon's legal issues have cast a shadow over the April 2023 announcement of the merger of WWE and competitor UFC. The agreement, which is anticipated to be finalized in the second half of 2023, will establish a brand-new publicly traded organization under the supervision of Endeavour Group, the UFC's parent company.
WWE and Endeavour have stated that they have cooperated throughout the inquiry and that they believe the subpoena and search warrant are a continuation of the one that started last summer. Analysts have raised concerns that the inquiry may have an impact on the merger's valuation or approval, though.
