NEW YORK, Feb. 15, 2018 /PRNewswire/ -- Kaplan Fox & Kilsheimer LLP
(www.kaplanfox.com) is investigating Wynn Resorts Limited ("Wynn"
or the "Company") (Nasdaq: WYNN) concerning
potential breach of fiduciary duty by the Wynn board of
directors.
On January 27, 2018, the Wall
Street Journal published an article based on its investigation
of the Company's former Chairman and CEO Steve Wynn, which included interviews of former
employees of Steve Wynn.
Dozens of people interviewed by the Wall Street Journal who
have worked at Steve Wynn's casinos alleged behavior that
cumulatively would amount to a decades-long pattern of sexual
misconduct by Steve Wynn, including
pressuring employees to perform sex acts.
According to Bloomberg News, the allegations that have
emerged raise the question: "Has the board known all along about
Wynn's sexual behavior but chose to look the other way?"
The Wynn Board reportedly has long been viewed as "worst in
class" by corporate governance experts. Institutional Shareholder
Services, for instance, rates the board a "10" – its lowest ranking
– meaning that the Board is at high risk for governance
problems.
Regulators in Nevada and
Massachusetts are reportedly
probing these allegations and the Board's conduct.
Massachusetts Gaming Commission Chairman Stephen Crosby reportedly said a central
question in its probe is what the Board and
executives knew about the allegations, and when they knew it.
Becky Harris, chairwoman of the
Nevada Gaming Control Board, reportedly stated that its
investigation into the allegations continues despite Steve Wynn's resignation.
For more information about Kaplan Fox & Kilsheimer
LLP or its investigation of Wynn, you may contact
jcampisi@kaplanfox.com or visit our website
at www.kaplanfox.com.
Kaplan Fox & Kilsheimer LLP,
with offices in New York,
San Francisco, Los Angeles, Chicago and New
Jersey, has decades of experience in prosecuting investor
class actions.
This press release may be considered Attorney Advertising in
some jurisdictions under the applicable law and ethical rules.
If you have any questions about this press release, please
contact:
Jeffrey P. Campisi
KAPLAN FOX & KILSHEIMER LLP
850 Third Avenue; 14th Floor
New York, NY 10022
(212) 687-1980
(800) 290-1952
jcampisi@kaplanfox.com
www.kaplanfox.com
View original
content:http://www.prnewswire.com/news-releases/investor-alert---kaplan-fox-announces-investigation-of-wynn-resorts-limited-300599738.html
SOURCE Kaplan Fox &
Kilsheimer LLP