The Detroit Police and Fire Retirement System has sued WWE’s Vince McMahon in an attempt to prevent his recent return as company leader.
Detroit’s cops and smoke-eaters are investors in WWE and are hoping to stop McMahon from retaking control of the company’s board of directors, sports business outlet Sportico reported Tuesday.
McMahon, 77, was ousted in July 2022 after an internal investigation found that he made hush money payments to four women hoping to cover up alleged sexual misconduct.
Though McMahon formally “retired” from any leadership position within WWE, he maintained a majority of the voting shares in the company. Earlier this month, he used those shares to reinstall himself and two pals on the board of directors.
Detroit’s police and fire pension system on Thursday accused McMahon of violating company bylaws and state laws in Delaware, according to Sportico. WWE is chartered in Delaware, and the suit was filed in Delaware Chancery Court.
A previous, nearly identical suit was filed two days earlier by WWE shareholder Scott Fellows, Sportico reported. The lawsuit from Detroit police seeks class-action status.