Add as a preferred source on Google The WWE-UFC merger that created TKO Group Holdings is set to enter a decisive phase next month.
Vince McMahon, Ari Emanuel, Nick Khan, Mark Shapiro, and Paul Levesque are among the names listed to testify in the shareholder lawsuit brought by former WWE shareholders. The trial is scheduled to begin on June 8 in the Delaware Court of Chancery.
The lawsuit accuses McMahon of steering WWE’s sale to Endeavor in a way that served his own interests, including securing his place in the new company’s leadership after the sexual misconduct allegations that surfaced in 2022. The defendants deny the allegations.
According to the witness list, McMahon and Emanuel are expected to be called to court by both the shareholders and the defense. Shapiro, Khan, Levesque, George Barrios, Michelle Wilson, Frank Riddick, Andrew Schleimer, and Steve Koonin are also among the names listed. Stephanie McMahon’s testimony could be presented either live or by recording.
WWE and TKO are not direct defendants in the case. The main defendants are McMahon and members of WWE’s former board, including Khan, Levesque, Barrios, and Wilson, over an alleged breach of fiduciary duty during the sale process.
TKO was officially formed in September 2023, with Endeavor controlling 51% of the new company and former WWE shareholders receiving 49%. Ari Emanuel became TKO’s CEO, while Mark Shapiro became president and COO.
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If the shareholders win, damages could reach hundreds of millions of dollars. Since the case will be decided by a judge rather than a jury, a final ruling is not expected immediately after the trial.