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Case Status:    ONGOING    
On or around 03/03/2016 (Ongoing date of last review)

Filing Date: May 24, 2010

According to a press release dated May 25, 2010, the complaint alleges that, throughout the Class Period, defendants failed to disclose material adverse facts about the Company’s true financial condition, business and prospects. Specifically, the complaint alleges that defendants failed to disclose that: (i) increasing competition in Macau was steadily eroding the Company’s foothold in the region, which undermined defendants’ representations that everything was proceeding according to plan; (ii) the Company was facing a significant liquidity crisis as a result of its ongoing expenditure of capital in Macau and Singapore, which forced the Company to divert funds from other operations to develop its Asian properties; (iii) the Company could not, in fact, weather the economic downturn, because the credit markets were drying up and Las Vegas Sands had failed to timely access those markets; and (iv) increasing visitor restrictions in Macau, which defendants represented would not impact the Company as significantly as its competitors (or otherwise publicly dismissed), were expected by defendants to have just as devastating an effect on Las Vegas Sands.

On November 6, 2008, the Company’s auditor, PricewaterhouseCoopers LLP (“PwC”), expressed doubt about the Company’s ability to continue as a going concern, prompting PwC to issue a going concern qualification which alerted shareholders to the true extent of the Company’s perilous condition. In response, the trading price of Las Vegas Sands common stock plummeted nearly 33%.

On August 31, 2010, Judge Kent J. Dawson granted Movant Pension and Retirement Group’s motion to consolidate and to be appointed lead counsel. On November 1, 2010, the plaintiffs filed an Amended Class Action Complaint. The defendants responded by filing a motion to dismiss on January 10, 2011.

According to the Order signed by Judge Kent J. Dawson on August 24, 2011, the defendants' motion to dismiss was granted in part and denied in part.

On July 11, 2012, the Court issued an Order denying in part and granting in part Defendant's Motion for Reconsideration. The Court granted the Plaintiff's Motion for Class Certification.

On November 7, 2013, the Court issued an Order granting in part and denying in part Defendants' Motions to Dismiss.

COMPANY INFORMATION:

Sector: Services
Industry: Casinos & Gaming
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: LVS
Company Market: New York SE
Market Status: Public (Listed)

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: D. Nevada
DOCKET #: 10-CV-00765
JUDGE: Hon. Kent J. Dawson
DATE FILED: 05/24/2010
CLASS PERIOD START: 08/01/2007
CLASS PERIOD END: 11/06/2008
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Law Offices of Alfred G. Yates
    519 Alleghany Bldg., 429 Forbes Avenue, Law Offices of Alfred G. Yates, PA 15219
    412.391.5164 ·
  2. Robbins Geller Rudman & Dowd LLP (Melville)
    58 South Service Road, Suite 200, Robbins Geller Rudman & Dowd LLP (Melville), NY 11747
    631.367.7100 631.367.1173 ·
  3. The O'Mara Law Firm, P.C.
    311 East Liberty Street, The O'Mara Law Firm, P.C., NV 89501
    775.323.1321 775.323.1321 ·
No Document Title Filing Date
COURT: D. Nevada
DOCKET #: 10-CV-00765
JUDGE: Hon. Kent J. Dawson
DATE FILED: 11/01/2010
CLASS PERIOD START: 08/02/2007
CLASS PERIOD END: 11/06/2008
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Robbins Geller Rudman & Dowd LLP (San Diego)
    655 West Broadway, Suite 1900, Robbins Geller Rudman & Dowd LLP (San Diego), CA 92101
    619.231.1058 619.231.7423 ·
No Document Title Filing Date