April 29, 2014 (Shareholders Foundation) - An investigation on behalf of investors of World Wrestling Entertainment, Inc. (NYSE:WWE) shares over potential securities laws violations by World Wrestling Entertainment and certain of its directors and officers in connection certain financial statements was announced.
The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of World Wrestling Entertainment, Inc. (NYSE:WWE) concerning whether a series of statements by World Wrestling Entertainment regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
World Wrestling Entertainment, Inc. reported that its annual Total Revenue rose from $484.01 million in 2012 to $507.97 million in 2013 while its respective Net Income fell from $31.43 million to $2.76 million. Shares of World Wrestling Entertainment, Inc. (NYSE:WWE) grew from $7.72 per share in late 2012 to as high as $31.39 per share on March 20, 2014.
On April 7, 2014, World Wrestling Entertainment, Inc. announced that it has changed the location of its Annual Meeting of Stockholders to be held on April 25, 2014. Shares of World Wrestling Entertainment, Inc. (NYSE:WWE) declined from over $31 in March 2014 to as low as $19.65 per share on April 11, 2014.
On April 28, 2014, NYSE:WWE closed at $19.51 per share.