Pension Fund Fights WWE's Bid To Nix Stock-Drop Suit
Law360 (July 15, 2020, 3:27 PM EDT) -- World Wrestling Entertainment Inc.'s request to nix a stock-drop suit should be denied, shareholders told a New York federal judge Tuesday, alleging the wrestling giant's defense against claims it hid souring relations with Saudi Arabia is "scattershot."
In its June 29 motion to dismiss, WWE argued the consolidated lawsuit was an "impermissible fraud by hindsight case."
But in its opposition to the motion filed Tuesday, lead plaintiff Firefighters Pension System of the City of Kansas City Missouri Trust asked U.S. District Judge Jed S. Rakoff to deny the request to toss the suit.
"Defendants' motion is a scattershot effort to offer...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!