WPBL investor Mina Kim filed a petition in Delaware's Court of Chancery on Monday, demanding 19 categories of financial records from the Women's Professional Baseball League. The request comes less than four weeks into the league's inaugural season.
Details Behind the WPBL Investor Lawsuit
At the center of Kim's concerns is a nearly $60,000 payment to a company owned by WPBL CEO Keith Stein and his wife. That transfer was initially named as a startup expense reimbursement, then reclassified as a loan receivable, allegedly without board approval or formal documentation.
Beyond the payment itself, Kim's filing also raises potential conflict-of-interest questions. Stein works as an attorney at Dentons, and fellow WPBL director Andreas Kloppenborg is a partner at the same firm. Meanwhile, board member Mark Prosterman may share a familial connection to Stein's wife, whose maiden name is Prosterman.
The league pushed back, calling Kim's petition a "personal grievance" and noting that the other five board members "stand unified in their repudiation of any allegations." Still, the timing is unfortunate for a league actively courting fans and sponsors in its first season. as unanswered financial questions could stall that momentum.
The WPBL's four-team regular season wraps September 6th, with postseason play beginning September 16th.
