Levi & Korsinsky, a securities law firm, has issued a press release stating that they have made investors aware of possible violations to federal securities laws when it comes to WWE.
According to the law firm, they will be investigating whether or not WWE has committed any violations of federal securities laws, specifically whether or not any fraud violations took place from any of the members of the company.
In the press release, the law firm references WWE’s third-quarter finances, noting that “On October 31, 2019, WWE released its financial results for the third quarter of 2019. The Company disclosed a large decline in net income and cash flow generated as compared to the third quarter of 2018 and cited “unfavorable timing of working capital and lower operating performance” as the cause of the decline.”
Whether or not any wrongdoing will be found has yet to be determined, but the company will likely be updating everyone as their investigation continues.