Haeggquist & Eck Investigates Wynn Resorts Board for Concealing Decades-Long Pattern of Sexual Harassment, Abuse, & Misconduc...
March 09 2018 - 9:00AM
Business Wire
Haeggquist & Eck, LLP, a leading shareholder rights
litigation firm, is investigating whether certain directors and
officers of Wynn Resorts, Limited (“Wynn Resorts”) (NasdaqGS: WYNN)
breached their fiduciary duties to shareholders by turning a blind
eye to Wynn’s sexual misconduct and actively concealing accusations
against him.
Several shareholder derivative suits have been filed against the
Board, including one by the state of Oregon on Tuesday, March 6,
2018. “The story of Steven Wynn is a cliché: a powerful man preying
on the powerless. But the directors of Wynn Resorts were not
powerless…They were the only people with the knowledge and ability
– and the duty to the company – to investigate and stop Steve
Wynn’s misconduct. They chose, instead, to be complicit with Steve
Wynn and use company resources to attempt to cover up his behavior
out of self-interest.”
A Wall Street Journal article from late January revealed that
Wynn paid a $7.5 million settlement to a former employee who
alleged Wynn forced her to have sex with him in 2005, spurring
dozens of similar accusations.
The Board became aware of the settlement sometime after 2009,
but did not take action until February 2, 2018, when it announced
its own internal investigation headed up by O’Melveny & Myers.
When Wynn resigned on February 6, 2018, Wynn Resorts abruptly
canceled the investigation and fired O’Melveny.
Wynn Resorts’ stock price plunge 10% as a result of Wynn’s
misconduct, and Wynn Resorts also faces ongoing investigations by
gaming regulators in Nevada, Massachusetts and Macau.
What You Can Do
If you are a Wynn Resorts shareholder, you may have legal claims
against Wynn Resorts’ directors and officers. If you wish to
discuss this investigation, or have questions about your legal
rights, please call attorney Amber Eck at 619-342-8000 or e-mail
her at ambere@haelaw.com. There is no cost or obligation to
you.
Haeggquist & Eck, LLP is a nationally recognized leader in
shareholder rights law. The firm represents individual investors in
shareholder derivative lawsuits, and members of the firm have
helped shareholders recover more than $1 billion of value for
themselves and the companies in which they have invested.
This release constitutes attorney advertising. Past results do
not guarantee a similar outcome.
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version on businesswire.com: http://www.businesswire.com/news/home/20180309005137/en/
Haeggquist & Eck, LLPAmber Eck,
619-342-8000ambere@haelaw.com
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