WWE Says Derivative Suit Should Stay In Federal Court

Law360 (September 21, 2020, 4:37 PM EDT) -- World Wrestling Entertainment Inc. executives urged a Connecticut federal judge Friday not to remand back to state court a shareholder derivative lawsuit alleging it lied about business dealings with Saudi Arabia, telling the judge the suit raises matters of federal law and is closely related to other suits in that court.

Investor Rodney Nordstrom filed the June 2 suit in Connecticut Superior Court, alleging WWE executives made "materially false and misleading statements" about business dealings between WWE and Saudi Arabia. But WWE got it removed to U.S. District Court for the District of Connecticut in July, which Nordstrom has asked to remand...

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