NEW YORK, Feb. 8, 2018 /PRNewswire/ -- Bernstein Liebhard LLP is continuing to investigate whether the Board of Directors of Wynn Resorts, Limited ("Wynn Resorts" or the "Company") (NASDAQ: WYNN) breached their fiduciary duties to the Company's shareholders.
Wynn Resorts is a developer, owner and operator of casino resorts. The Company was led by Chairman and Chief Executive Officer Stephen A. Wynn ("Wynn") until his February 7, 2018 resignation.
Wynn's resignation came in the wake of two weeks of steady news about allegedly pervasive sexual misconduct by Wynn – purportedly stretching over decades and involving dozens of women. Since January 26, 2018, when the Wall Street Journal published a detailed account of Wynn's alleged misconduct, Wynn Resorts has lost billions of dollars in market capitalization and dropped almost $30 per share. Several gaming authorities are investigating whether Wynn's behavior has violated suitability requirements for casino licensing, which relate to the background, associations and reputation of officers, directors and key employees.
Bernstein Liebhard LLP is investigating the Wynn Resorts Board's conduct relating to Wynn's alleged harassment. Wynn Resorts Board members are widely viewed as lacking independence from Wynn, one of the many reasons that Wynn Resorts ranks last in corporate governance among 108 companies in the gambling and casino business, according to Sustainalytics. The Company has announced that it formed a supposedly independent Special Committee to investigate the extensive allegations against Wynn.
If you currently own Wynn Resorts shares and are interested in discussing your rights, or if you have relevant information concerning this matter, please contact Joseph R. Seidman, Jr. at (877) 779-1414 or [email protected].
Bernstein Liebhard LLP has pursued hundreds of securities, consumer, and shareholder rights cases and recovered over $3.5 billion for its clients. The Firm has been named to The National Law Journal's "Plaintiffs' Hot List" thirteen times.
ATTORNEY ADVERTISING. © 2018 Bernstein Liebhard LLP. The law firm responsible for this advertisement is Bernstein Liebhard LLP, 10 East 40th Street, New York, New York 10016, (212) 779-1414. The lawyer responsible for this advertisement in the State of Connecticut is Michael S. Bigin. Prior results do not guarantee or predict a similar outcome with respect to any future matter.
SOURCE Bernstein Liebhard LLP