Vince McMahon charged by SEC for failure to disclose settlements to WWE

The Securities and Exchange Commission announced settled charges against Vince McMahon, the former Executive Chairman and CEO of World Wrestling Entertainment, for signing two settlement agreements, one in 2019 and one in 2022, on behalf of himself and WWE without disclosing the agreements to WWE’s Board of Directors, legal department, accountants, financial reporting personnel, or auditor. Doing so circumvented WWE’s system of internal accounting controls and caused material misstatements in WWE’s 2018 and 2021 financial statements, the SEC stated. WWE is an American professional wrestling promotion owned and operated by TKO Group (TKO) Holdings.