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On the same day WWE released their fourth quarter financial earnings, a New York City law firm launched an investigation against the company for possible violations of federal securities laws.
Levi & Korsinsky issued a press release on 2/6 notifying investors of World Wrestling Entertainment, Inc. that it has began an investigation regarding financial results for the third quarter of 2019.
Levi & Korsinsky notifies investors that it has commenced an investigation of World Wrestling Entertainment, Inc. (“WWE” or “the Company”) (WWE) concerning possible violations of federal securities laws.
On October 31, 2019, WWE released its financial results for the third quarter of 2019. The Company disclosed a large decline in net income and cash flow generated as compared to the third quarter of 2018 and cited “unfavorable timing of working capital and lower operating performance” as the cause of the decline.
Following these disclosures, WWE’s stock price plummeted by 18.68%.
The law firm has created a submission form for investors to submit any losses they may have incurred.