WWE/AWA Lawsuit, WWE Overseas Figures, Dykstra, Cade, & More Published by Ryan Clark on 11/20/2008 at 12:29 PM
The AWAStars.com website is now a dead link and no longer forwards to any other Dale Gagner owned promotion. WWE claimed the site in its recent lawsuit against Dale R. Gagner's AWA Superstars.
WWE informed the United States District Court of Georgia on November 19th that they had come to a settlement agreement with two of the three defendants in the company's lawsuit against Wrestlemania 23 sponsor 360 OTC. OTC was identified as the Wrestlemania 23 presenting sponsor and billed as the "Official Pain Relief" for the event. WWE filed suit against Air, Sea and Ground, Inc., Rockford-Montgomery Labs, Inc. and the IAHL Corporation (formerly Three Sixty, Inc) alleging that after coming to terms with 360 OTC for a sponsorship agreement, they became delinquent in payments of agreed upon fees but continued to portray themselves as having a relationship with WWE via their website. WWE claimed that they were to be paid a fee of $1,000,000 as part of the Mania 23 sponsorship. The filing listed a gross payment of $1,176,470.59 due the company at the time of filing. WWE says that they fully performed its obligations under the Sponsorship Agreement. Air, Sea and Ground and Rockford-Montgomery had responded to WWE, and have come to terms with the company. They will pay a total of $925,000 to WWE. WWE told the court that this would fulfill their claims in the lawsuit in relation to two of the three listed defendants. The IAHL Corporation (formerly Three Sixty, Inc) still has yet to respond to WWE's lawsuit in any form. WWE informed the court that they intend to file a Motion for Entry of Default and for a Default Judgment and that order, if issued, would resolve all of their claims in the matter.
WWE sent out the following press release today: WWE® Breaks Int'l Record November 20, 2008 London, November 20, 2008 – World Wrestling Entertainment®'s recent November international tour grossed $15.1 million US dollars with sellouts in France, Germany, Belgium, and the UK, breaking its previous record of $14.5 million US dollars in April of this year. "This is a clear indication of WWE's continued international growth", said Shane McMahon, Executive Vice President of Global Media. "Even though these are tough times in the global economy, WWE remains the best value in entertainment."
WWE's stock is struggling again today as it is currently at $9.74. The stock closed at $10.33, which was considered a scary low.
Recently released WWE stars Kenny Doanne and Lance Cade are now accepting bookings through Bill Behrens and Show Business, Inc. @ showbis@aol.com.
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