Judge Tosses 3 WWE Saudi Arabia Derivative Suits

Law360 (November 9, 2020, 4:21 PM EST) -- A Connecticut federal judge threw out three shareholder derivative suits Friday that claimed World Wrestling Entertainment lied about business dealings in Saudi Arabia, causing its stock price to drop when tensions with the Middle Eastern country came to light.

U.S. District Judge Victor A. Bolden previously denied the motions to consolidate the suits against WWE, CEO Vince McMahon and its other officers and directors but allowed the parties to consolidate their briefings for motions to dismiss.

The three suits filed by shareholders Daniel Kooi, Rodney Nordstrom and Ryan Merholz and Melvyn Klein together allege breach of fiduciary duty and unjust enrichment,...

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