DETROIT (Michigan News Source) – A class action lawsuit has been filed by the Detroit Police and Fire Retirement System against World Wrestling Entertainment.
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Pension fund members say the suit is designed to prevent the sale of the WWE following the return of Vince McMahon as Chairman of the Board.
He had resigned after allegedly paying out millions of dollars to cover up alleged sexual misconduct.
The pension board for the city’s police and fire has about $2.8 billion in its fund, however, $100,000 of that is invested in the WWE – making it a shareholder.
The lawsuit was filed in Delaware. The pension fund board serves 11,000 retired and active duty first responders.
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