LAS VEGAS, April 20, 2016 /PRNewswire/ -- Lawyers representing Elaine Wynn, co-founder of Wynn Resorts (NASDAQ: WYNN) (the "Company") and one of the Company's largest shareholders, filed in the Nevada Clark County Court a heavily-redacted motion to compel further deposition of Former Nevada Governor and Wynn Resorts Director Robert J. Miller.
Governor Miller served as head of the Nominating and Corporate Governance Committee of the Board of Wynn Resorts at the time that Committee chose not to re-nominate long-time director Elaine Wynn to the Board at the Wynn Resorts' 2015 Annual General Meeting. The motion seeks to compel Governor Miller to respond to questions at his resumed deposition and to produce documents related to the deposition.
Through this litigation, Elaine Wynn has asserted that Wynn Resorts lacks effective internal controls, including a strong and independent Board, creating a tone at the top that chills any dissent and gives total power to one man. The complaint alleges, among other things, that the Wynn Resorts' Board of Directors is effectively controlled by Stephen Wynn and manipulated by Wynn Resorts' General Counsel Kimmarie Sinatra to facilitate Mr. Wynn's bidding.
The resumed deposition of Governor Miller seeks to examine whether the Board has fulfilled its fiduciary responsibilities to its shareholders, including by seeking much-needed clarity as to the process leading to the Board's unprecedented decision not to renominate Ms. Wynn – the only time in Wynn Resorts' history that a director has been denied renomination.
In the partially de-designated deposition of Dr. Ray Irani, another Wynn Resorts Nominating Committee member, he evidenced great difficulty remembering whether he even attended the General Meeting that unseated Ms. Wynn. In fact, he did attend, and voted for her removal.
The motion to compel the resumed deposition of Governor Miller asserts that his legal counsel has consistently missed deadlines as it relates to important correspondence to move the case forward, and knowingly provided documents potentially important to the deposition only after the deposition had taken place.
SOURCE Elaine Wynn