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C. Everett Koop posted:2: What could be found in Discovery that could be worse than what's already been made public? Note: this is not a creative writing challenge for the thread. If I'm remembering correctly this is being filed in California. Currently the suit is only allegations from one party against another and will probably remain that way until there is a settlement or discovery happens. During discovery if something like what happened during the quattrone discovery occurs then it will dramatically and negatively affect the verdict of the jury which recommend the financial penalties in cases like this. With how fast and loose Vince was with his abuse it's basically guaranteed that somewhere in the wwe/tko files that have to be maintained for sec reasons there is at least one quattrone level incriminating communication that matches one in the complaint. I'm sure you can imagine the level of chickens with their heads cut off scrambling happening right now trying to figure out exactly how exposed the company is to Vince's actions and how large a settlement they need to offer to prevent discovery. Regardless, this settlement will be large enough that they will have to report it in their financials which will then be a causus belli for shareholder suits that will also need to be settled because if the evidence is there that executives and the board knew but turned a blind eye or helped conceal it then it's a clear failure of fiduciary duty and probably securities fraud.
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Jan 27, 2024 01:34
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C. Everett Koop posted:So given today's events, it's clear that TKO is wanting to settle as quickly as possible and get their name out of the headlines. Assuming that the victim is also willing to settle, what's the dollar amount that would trigger having to report the settlement in their figures and risk the shareholder suit? I could see the victim wanting to be done with all of this, but shareholders are only going to rival goons in wanting their pound of flesh. The disclosure of settlements on a 10-k is 10% of a company's net assets. Depending on how tko financed the merger it's possible a 10m settlement could hit this due to debt obligations. Regardless of the settlement amount there is a clear case for securities fraud because the board had material information that would affect the stock price in a notable way and did not report it in the 10-k for 2021 or 2022. Connecticut also allows the jury to recommend punitive and restorative damages to the court as part of their delivery of a verdict. A good example of the jury exercising this power to set a moral message was the Alex Jones case which was also in Connecticut. This could easily turn into a cung le level problem for tko because if there is recorded conversations between executives or board members about Vince being the main character from a marquis de sade story then all the shareholders and the sec will be lining up for their personal chance to kick endeavour/tko in the balls. The reason I kept mentioning quattrone was that he sent an email with the subject line 'its time to clean up those files' and is the poster boy for what is evidence of intent regarding communications. With the texts in the suit I can't imagine that in the backups there wouldn't be some insane incriminating poo poo.
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Jan 27, 2024 07:54
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Thinking back to cm punk fondly recalling using a female trainee for free travel to shows and injuring her if she ever got too close to being able to get her own bookings.
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Jan 27, 2024 23:41
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I was reading in the matt Levine newsletter about the fines JP Morgan had to pay the sec over incorrectly formatted ndas to clients. WWE and TKO are publicly traded companies and knowledge of Vince or whoever being a fucko being withheld absolutely would be securities fraud so the ndas are completely unenforceable and the sec can fine TKO for them even existing. Hopefully the victim's lawyers also read Matt Levine's newsletter and check pacer for the decision.
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Jan 31, 2024 04:19
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The almost assuredly SEC punishments coming off the back of the SDNY case will be real bad for tko
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Feb 3, 2024 15:38
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The real problem for wwe is if they settle for the sort of number high enough to make Grant go away then it and the details surrounding it will have to be explained in the next 10-k. That plus the SEC rules about whistleblowers and NDAs and what the accepted interpretation of them is means it would be open season for anyone who got a nda payout from Vince for being a sex criminal would also be able to rattle the cage for more money. Then those would show up in the 10-k as well. This sort of behaviour being known and tolerated at board level which it prima facie was due to the person doing it being the chairman is all sorts of securities law violations. So essentially TKO is backed into the corner of figuring out how much incriminating information was known by executives and board members and how much of it got written down and if it's possible to win against Grant in court given that information. The only way out of not getting obliterated by shareholders and the sec for running a rape dungeon with a side business producing sports entertainment is to win against Grant without anything being found in discovery that might be grounds for misleading shareholders. That more or less means getting the case tossed before discovery given what's already in the wild information wise and if SDNY drops criminal charges before the judge considers if the case has merit to proceed then it's more or less nailed on to get to discovery. Also remember this is a famously Trump supporting fucko being brought to court in a blue state who last time they got a bite at a famously Trump supporting fucko expelled to the financial shadow realm. Actually there is the one other comedy option for tko avoiding the sec and shareholders and that's if the supreme Court finds federal regulatory agencies are unconstitutional which is on the docket currently as a possibility.
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Feb 5, 2024 08:56
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C. Everett Koop posted:That third paragraph is why I've been saying that WWE are very eager to settle and put all of the blame on Vince. The longer it goes, the worse the potential payback is going to be. Settling unless they can settle in such a way that it doesn't need to be reported in a 10-k and somehow prevents shareholders from saying 'you settled with somebody who was being abused by the chairman while the executive staff either knew it took part. Why wasn't this disclosed as an obvious existential risk to the company that the board would work too manage so that it could be factored into investing strategies and ESG disclosures' does literally nothing to help them. In terms of long term damage to TKO the shareholders and regulatory agencies are in a far better spot to gently caress their entire poo poo up and it wouldn't even be for anything other than financial self interest of an ambulance chaser.
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Feb 5, 2024 10:01
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Unless there is a pressing issue with statute of limitations a civil case in an issue with a complexion like this is better off slow rolling and waiting for SDNY to file charges. It will make defeating motions to dismiss a lot easier if you can point to a criminal case related to the civil claim. On the is Dave meltzer being a journalist or not, the only interesting questions currently surround legal issues like SEC disclosure rules. A bozo who gives star ratings to fake fighting shows is wholly unequipped to explore if the use of NDAs to prevent victims from discussing their experiences constitutes violating whistleblower protections surrounding failing to report material information that could affect the value of a public company. It's the sort of issue that only a publication like Bloomberg, FT or AFR have the expertise to accurately report on.
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Feb 6, 2024 23:54
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SatoshiMiwa posted:The Cung Le anti-trust is a civil suit so I think they can settle(don't hold me to it), it's just Class action with the potential of up to 1000 fighters being involved so any settlement could be as devastating as losing in court. It's why they went to Discovery instead of just paying the money when it wasn't thrown out, it's has the potential to be in the hundreds of million on the low end along with also setting precedent to allow other fighters not in the case to sue as well The fun shareholder suit will be when somebody goes after the merger deal from the perspective of 'you took a worse deal for shareholders because the buyer put in writing that nobody could stop you from operating your rape factory'. The merger due diligence documents will show they knew Vince was doing reprehensible poo poo because they said in a stylised way that his doing reprehensible poo poo was a potential threat to the value of the company in the 10-k. Between the cung le thing and all the different ways this issue is going to go horribly wrong the company, it probably doesn't have the liquidy enough assets on hand to settle everything.
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Feb 7, 2024 13:08
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C. Everett Koop posted:has the man not suffered enough He already posts here, just check the top posters in the aew hell thread
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Feb 14, 2024 03:06
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The CEO being a rape monster in a company where the CEO is a talismanic figure in terms of the companies success is a classic case material information that would affect the share price if disclosed. That they didn't say in 10k fillings that the CEO is a horrible monster who uses the company's public reputation to protect his behaviour is securities fraud. Disclosing it now doesn't protect the company from not disclosing it in the past, especially since they were forced into disclosing it by an independent third party.
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Feb 28, 2024 19:22
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mkay0 posted:Huge to us, but will likely lead to nothing Conspiracy to conceal human trafficking is something bad enough to even get Rick people
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Mar 11, 2024 23:12
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edogawa rando posted:I just don’t understand how one could confuse a scrum and two blokes having a sprint. American reacts to rugby for the first time. Wmv
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Apr 19, 2024 06:05
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Trump pardoning Vince would be a disaster for the civil suits because you wouldn't have to even try to prove anything, it would all be a part of settled public record.
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Apr 20, 2024 18:21
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Nystral posted:It depends? If it was a corporate device then any communications on it needed to be stored for 10 years because the device was used for communications by a senior corporate officer. Deleting texts is something like a 500m a year industry for the SEC.
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May 14, 2024 23:16
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