It has been bad few weeks for the WWE. The amount of subscribers for the WWE Network was a little over 667,000 and caused their stock to fall under $20.00. Then last week, the company announced a new television deal with NBCUniversal, but from the words of Vince McMahon on the investor call Monday, it wasn’t where they wanted it to be. The news of the TV deal caused WWE stock to plumment to under $11.00 a share. Law firms have been coming out and starting investigations regarding their stock and if WWE broke securities laws.
Another company is now investigating them as The Law Office of James C. Kelly announced early this morning that they are investigating potential claims on behalf of investors who purchased WWE stock from August 1, 2013 to May 15, 2014. Here is another clip from a financial piece detailing the latest investigation.
“On May 15, 2014, WWE updated its business outlook by disclosing that if it achieves one million subscribers for its WWE television network by the end of this year, it would have operating losses of between $35 million and $45 million.”
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We will keep you updated when more news becomes available.