A WWE Hall of Famer has strongly criticised the recently settled WWE shareholder lawsuit, saying they hope the plaintiffs walked away empty-handed.
The lawsuit, which was connected to the merger that created TKO Group Holdings, was scheduled to go to trial before both sides reached a settlement. While the terms of the agreement have not been made public, WWE Hall of Famer JBL shared his thoughts on the outcome during a recent episode of Something to Wrestle (quotes courtesy of wrestlingnews.co). JBL said he viewed the settlement as a practical business decision and suggested that avoiding a lengthy court battle would ultimately benefit TKO.
“I don’t know what the settlement was,” JBL said. “A bad settlement is better than a good lawsuit any day of the week.”
The former WWE Champion also questioned the merits of the case, arguing that many lawsuits against large corporations are filed in the hope of securing a settlement rather than winning in court. JBL compared the situation to stories he heard during his WCW days, claiming that some people view legal action as an opportunity to pressure wealthy companies into making a payout.
“I just don’t see any merit to this whatsoever,” he said.
The Hall of Famer went on to say that he hoped the plaintiffs did not receive any significant compensation from the settlement and suggested that, if money was paid, it may simply have been to make the case go away.
“I hope they didn’t get any money,” JBL said.
JBL Said That Vince McMahon Would Sometimes Settle WWE’s Legal Disputes Despite No Wrongdoings
JBL also referenced Vince McMahon‘s past approach to legal disputes, claiming that McMahon would sometimes choose to settle matters even when he believed there was no wrongdoing, simply to avoid the cost and distraction of prolonged litigation.
The shareholder lawsuit attracted attention because McMahon could have been called to testify. The case centred on the WWE sale process that ultimately led to the company’s merger with Endeavor and the formation of TKO.
According to a statement previously relayed by Fightful Select, a source close to McMahon argued that shareholder litigation is common following major corporate transactions and maintained that WWE shareholders benefited significantly from the merger.
