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The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of World Wrestling Entertainment, Inc. (NYSE: WWE) who purchased shares between February 7, 2019 and February 5, 2020. The action, which was filed in the United States District Court for the Southern District of New York, alleges that the Company violated federal securities laws.
Defendants perpetrated a fraudulent scheme which: (i) deceived the investing public regarding WWE’s business and prospects; (ii) artificially inflated the price of WWE Class A common stock; (iii) permitted certain senior executives of WWE to sell more than $282 million worth of their personally held shares at fraud inflated prices; and (iv) caused the public to purchase WWE Class A common stock at artificially inflated prices.
Shareholders have until May 5, 2020 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
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