WWE head Vince McMahon was served with a subpoena and search warrant last month, according to a regulatory filing the company issued on Wednesday.
The Securities and Exchange Commission filing stated that the subpeona and search warrant were received on July 21. WWE said it had received “voluntary and compulsory legal demands for documents, including from federal law enforcement and regulatory agencies, concerning the investigation and related subject matters”.
The investigation is believed to be an extension of the probe that began last summer, when McMahon, 77, retired as chief executive amid allegations that he paid millions of dollars to women who accused him of sexual misconduct.
Despite leaving the company he returned and played an instrumental role in formenting an ongoing merger between WWE and UFC parent company, Endeavor Group Holdings. McMahon was to remain executive chairman of the board following the merger, which was announced in April, as part of which Endeavor would retain 51 per cent ownership and WWE shareolders the rest.
During the company's second quarter earnings call, WWE chief executive Nick Khan also revealed that McMahon had been on medical leave since July 21, following "major spinal surgery", but that he was still executive chairman. The company reported a quarterly record of $410.3 million in revenue.
It also announced that an investigation by a special committee formed by the company's board had "incurred $5.3 million and $7.1 million, respectively, of expenses related to costs incurred”. WWE added: “Mr McMahon has agreed to review in good faith and reimburse the company for all reasonable costs incurred in connection with and/or arising from the investigation”. McMahon has already reimbursed the company about $17.4 million for the costs incurred.
"As previously disclosed, the Special Committee investigation was completed during the fourth quarter of 2022. However, related government investigations remain ongoing,” WWE added.
McMahon has been the public face of WWE since he purchased the company – then the WWF – from his father for $1 million in 1982. In the years since, he has grown it into a multi-billion dollar business empire.
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Evacuations to France hit by controversy
- Over 500 Gazans have been evacuated to France since November 2023
- Evacuations were paused after a student already in France posted anti-Semitic content and was subsequently expelled to Qatar
- The Foreign Ministry launched a review to determine how authorities failed to detect the posts before her entry
- Artists and researchers fall under a programme called Pause that began in 2017
- It has benefited more than 700 people from 44 countries, including Syria, Turkey, Iran, and Sudan
- Since the start of the Gaza war, it has also included 45 Gazan beneficiaries
- Unlike students, they are allowed to bring their families to France
The specs: 2018 Volkswagen Teramont
Price, base / as tested Dh137,000 / Dh189,950
Engine 3.6-litre V6
Gearbox Eight-speed automatic
Power 280hp @ 6,200rpm
Torque 360Nm @ 2,750rpm
Fuel economy, combined 11.7L / 100km
Company info
Company name: Entrupy
Co-founders: Vidyuth Srinivasan, co-founder/chief executive, Ashlesh Sharma, co-founder/chief technology officer, Lakshmi Subramanian, co-founder/chief scientist
Based: New York, New York
Sector/About: Entrupy is a hardware-enabled SaaS company whose mission is to protect businesses, borders and consumers from transactions involving counterfeit goods.
Initial investment/Investors: Entrupy secured a $2.6m Series A funding round in 2017. The round was led by Tokyo-based Digital Garage and Daiwa Securities Group's jointly established venture arm, DG Lab Fund I Investment Limited Partnership, along with Zach Coelius.
Total customers: Entrupy’s customers include hundreds of secondary resellers, marketplaces and other retail organisations around the world. They are also testing with shipping companies as well as customs agencies to stop fake items from reaching the market in the first place.
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Rating: 4/5
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Exhchange traded funds are bought and sold like shares, but operate as index-tracking funds, passively following their chosen indices, such as the S&P 500, FTSE 100 and the FTSE All World, plus a vast range of smaller exchanges and commodities, such as gold, silver, copper sugar, coffee and oil.
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Winner: Miller’s House, Richard Mullen (jockey), Satish Seemar (trainer).
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Power: 333hp, 449hp, 680hp
Torque: 480Nm, 670Nm, 870Nm
On sale: Later in 2025 or early 2026, depending on region
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