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WWE ends investigation into alleged Vince McMahon misconduct

World Wrestling Entertainment said Wednesday that a special committee investigating allegations of misconduct and secret payments by former CEO Vince McMahon has been disbanded.

“The special committee’s investigation is now complete and the special committee has been dissolved,” the company said in a securities filing. “Management is working with the board to implement the special committee’s recommendations related to the investigation.”

McMahon retired in July after WWE said he paid nearly $20 million in previously unrecorded expenses. McMahon is still WWE’s largest shareholder and his daughter, Stephanie McMahon, is co-CEO.

“Mr. McMahon can effectively exercise control over our affairs,” the company said in Wednesday’s filing.

Nearly $15 million has been paid to settle allegations of sexual misconduct against McMahon by four women over the age of 16. He contributed $5 million to Donald Trump’s now-defunct foundation through donations in 2007 and 2009.

WWE, which has been mentioned as a potential acquisition target, suggested the payments are being investigated by other entities.

Shares of the company, which reported an increase in quarterly earnings on Wednesday, have bucked broader market trends this year. The stock was up 57% through Wednesday’s close.


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