Law360 (July 31, 2020, 12:03 AM EDT) -- World Wrestling Entertainment Inc. again pressed a New York federal judge Thursday during oral arguments to toss a proposed stockholder class action alleging the WWE inflated its stock price by hiding that its business relationship with Saudi Arabia was falling apart.
Counsel for the WWE and its executives, Stephen G. Topetzes of K&L Gates LLP, told U.S. District Judge Jed S. Rakoff the suit is a "fraud-by-hindsight case," reiterating his argument in the June 26 motion to dismiss.
"The complaint is devoid of particularized allegations," Topetzes said, lacking any internal documents or firsthand accounts to back up investors' allegations that the...
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!