A shareholder lawsuit that accuses Wynn Resorts executives of deceiving investors by failing to disclose Steve Wynn’s alleged sexual misconduct can proceed as a class-action complaint, a federal judge has determined.
Steve Wynn, Wynn Resorts, class action, shareholders
Shareholders claim the Wynn Resorts board knew about allegations of sexual misconduct against the company’s then-Chairman and CEO, Steve Wynn, above, but did nothing.
US District Judge Andrew Gordon made no judgment on the allegations contained in the lawsuit. But by granting it permission to represent a class, he paved the way for anyone who bought or owned the casino giant’s shares between Feb. 28, 2014, and Jan. 25, 2018, to join the case.
The suit names Wynn Resorts Ltd and several current and former executives, including former CEO Matt Maddox and current CEO Craig Scott Billings. It is one of several shareholder lawsuits filed in the wake of allegations against Wynn.
Steve Wynn, Wynn Resorts, class action, shareholders
Shareholders claim the Wynn Resorts board knew about allegations of sexual misconduct against the company’s then-Chairman and CEO, Steve Wynn, above, but did nothing.
US District Judge Andrew Gordon made no judgment on the allegations contained in the lawsuit. But by granting it permission to represent a class, he paved the way for anyone who bought or owned the casino giant’s shares between Feb. 28, 2014, and Jan. 25, 2018, to join the case.
The suit names Wynn Resorts Ltd and several current and former executives, including former CEO Matt Maddox and current CEO Craig Scott Billings. It is one of several shareholder lawsuits filed in the wake of allegations against Wynn.
