Business | Vince McMahon and others are sanctioned for destroying evidence in WWE shareholder lawsuit by Stacy Perman

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A Delaware Court of Chancery judge has dealt a significant setback to WWE founder Vince McMahon and other executives by sanctioning them for “spoliation of evidence” in a shareholder lawsuit over the 2023 merger that created the $21.4 billion TKO Group Holdings, a combination of WWE and the UFC‑parent Endeavor. The judge found that WWE officials used the auto‑delete feature on the Signal app to destroy potentially relevant communications, prompting the court to assume five damaging statements are true, including that McMahon’s decision to merge was swayed by Endeavor chairman Ari Emanuel’s promise of a continued role, indemnity and legal support amid federal probes of alleged sexual‑misconduct settlements. Shareholders claim McMahon orchestrated a “sham” sale, rejected higher offers and steered the deal to a close ally, thereby undervaluing WWE and protecting himself from investigations. The litigation follows earlier SEC and DOJ inquiries into McMahon’s undisclosed $14.6 million payments to women and a $1.7 million civil penalty, and the trial is scheduled to begin on June 8, with McMahon and key executives expected to testify.

Read more: https://www.latimes.com/entertainment-arts/business/story/2026-05-30/vince-mcmahon-others-sanctioned-for-deleted-texts-in-wwe-share

#VinceMcMahon #AriEmanuel #WWE #Endeavor #TKOGroup #TravisLaster #JanelGrant #NickKhan #MarkShapiro #PaulLevesque

Boston.com | Judge upholds former Market Basket CEO Arthur T. Demoulas’s firing by Abby Patkin

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A Delaware Court of Chancery judge has upheld the Market Basket board’s decision to fire former CEO Arthur T. Demoulas, confirming that the board’s September vote to remove him was proper. The ruling noted that while Demoulas was “an excellent operator,” his “imperious”, top‑down leadership style led him to bypass board oversight, launch a public campaign against his three sisters who together control a majority of the company, and even disseminate personal information that spurred threats. Demoulas’ attempt to prove the directors acted in bad faith and breached their loyalty duties failed, and the judge affirmed the board’s broad authority to remove a CEO whose conduct undermines governance. The board thanked Demoulas for his years of service and said it will continue focusing on Market Basket’s low‑price, community‑oriented mission under new leadership.

Read more: https://www.boston.com/news/business/2026/04/20/judge-upholds-former-market-basket-ceo-arthur-t-demoulas-firing/

#ArthurDemoulas #J.TravisLaster #MarketBasket #DelawareCourt #business #TravisLaster #JustineGriffin

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