Haeggquist & Eck Investigates Wynn Resorts Directors & Officers Regarding Report of “Decades-Long Pattern of Sexual Miscond...
February 07 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 in regard to
alleged sexual misconduct by CEO Steve Wynn over many years. Wynn
Resorts is based in Las Vegas, but generates more than 70% of its
business in the Chinese gambling market of Macau.
Wynn Resorts’ stock plunged more than 10% last Friday, February
2, 2018, wiping out $2 billion of the company’s value, after The
Wall Street Journal reported that dozens of employees “told of
behavior that cumulatively would amount to a decades-long pattern
of sexual misconduct.” The Wall Street Journal interviewed over 150
current and former employees. In one case, the report said, Wynn
paid a $7.5 million settlement to a manicurist who claimed Wynn
forced her to have sex with him in 2005. Wynn has denied the
allegations, calling them “preposterous.”
Last Friday, the Wynn Resorts’ Board formed a Special Committee
of Independent Directors to investigate the allegations contained
in The Wall Street Journal article and hired the Los Angeles office
of O’Melveny & Myers to assist in the investigation.
Wynn Resorts also faces ongoing investigations by gaming
regulators – the Nevada Gaming Control Board, the Massachusetts
Gaming Commission and Macau’s Gaming Inspection and Coordination
Bureau.
What You Can Do
If you are an 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 this notice or
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.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20180207005317/en/
Haeggquist & Eck, LLPAmber Eck,
619-342-8000ambere@haelaw.com
Wynn Resorts (NASDAQ:WYNN)
Historical Stock Chart
From Aug 2024 to Sep 2024
Wynn Resorts (NASDAQ:WYNN)
Historical Stock Chart
From Sep 2023 to Sep 2024