WWE and TKO’s parent company, Endeavor, is the subject of a class action lawsuit over its privatization.
Rosen Law Firm, an international investor rights firm, filed a complaint on behalf of sellers of Endeavor Class A common stock between January 15, 2025 and March 24, 2025 in the Western Division of California’s Central District Court. Rosen is asking for plaintiffs to come forward with a deadline of March 18, 2026.
The suit looks to recover purported damages on behalf of investors as a result of allegedly false, misleading statements, omissions of material facts in a January 15, 2025 SEC filing and subsequent filings.
The complaint alleges the filing misled investors regarding the true value of Endeavor’s shares, failed to adequately disclose the earnings of executives under the terms of the take-private merger with Silver Lake in March 2025, and failed to disclose conflicts of interests with Endeavor’s special committee and financial advisor. Robbins Geller Rudman & Dowd law firm is also asking for plaintiffs to come forward regarding the action.
Endeavor acquired WWE from Vince McMahon in 2023, merging the company with UFC to create TKO Group Holdings; McMahon served as Executive Chairman under Ari Emanuel prior to his resignation in January 2024 after Janel Grant filed a sex trafficking lawsuit against him and WWE.
The company is also subject to a lawsuit from shareholders alleging McMahon had preempted the sale to Endeavor, against his fiduciary duty, to ensure he remained with the company post-merger.
