|[May 16, 2014]
WWE INVESTIGATION INITIATED BY FORMER LOUISIANA ATTORNEY GENERAL: Kahn Swick & Foti, LLC Investigates World Wrestling Entertainment Inc. Following Disclosure of Disappointing Distribution Agreement
NEW ORLEANS --(Business Wire)--
Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a
partner at the law firm of Kahn Swick & Foti, LLC ("KSF"), announces
that KSF has commenced an investigation into World Wrestling
Entertainment Inc. (NYSE: WWE).
On May 16, 2014, WWE disclosed that it had reached a multiyear deal with
US broadcaster NBCUniversal for its long-running Raw and SmackDown
programs, stating that the annual value of its television distribution
agreements would reach $200 million, well below what investors were
expecting. Daniel Moore, an analyst with CJS Securities, said in a
research note that, "Given management's more optimistic tone and the
fact that other major sports franchises have garnered much higher
increases, this outcome is likely to be viewed as disappointig by many
On this news, the value of WWE's stock plummeted by over 43%.
KSF's investigation is focusing on whether WWE and/or its officers and
directors violated state or federal securities laws.
If you have information that would assist KSF in its investigation, or
would like to discuss your legal rights, you may, without obligation or
cost to you, e-mail or call KSF Managing Partner Lewis Kahn (firstname.lastname@example.org)
or KSF Partner Melinda Nicholson (email@example.com)
toll free at 1-877-515-1850.
About Kahn Swick & Foti, LLC
KSF, whose partners include the Former Louisiana Attorney General
Charles C. Foti, Jr., is a law firm focused on securities class action
and shareholder derivative litigation with offices in New York and
Louisiana. KSF's lawyers have significant experience litigating complex
securities class actions nationwide on behalf of both institutional and
To learn more about KSF, you may visit www.ksfcounsel.com.
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