On or around 12/04/2018 (Ongoing date of last review)
Filing Date: February 20, 2018
According to the law firm press release, Wynn Resorts owns and operates luxury hotels and destination casino resorts. The Company owns and operates Wynn Las Vegas and Encore in Las Vegas, Nevada, and Wynn Macau and Wynn Palace in Macau, China, and it is currently constructing a new $2.4 billion property called Wynn Boston Harbor in Everett, Massachusetts.
The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operational and compliance policies. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) the Company’s founder and Chief Executive Officer (“CEO”) had engaged in a pattern of sexual misconduct with respect to Wynn Resorts employees, including instances of sexual assault; (ii) discovery of the foregoing misconduct would subject the Company to heightened regulatory scrutiny and jeopardize the CEO’s tenure at the Company; and (iii) as a result of the foregoing, Wynn Resorts’ shares traded at artificially inflated prices during the Class Period, and class members suffered significant losses and damages.
On March 13, 2018, this case was transferred to the District of Nevada under Docket 18-CV-00479. On December 4, the Court issued an Order appointing Lead Plaintiffs and Counsel.
Company & Securities Information
Defendant: Wynn Resorts Limited
Industry: Hotels & Motels
Headquarters: United States
Ticker Symbol: WYNN
Company Market: NASDAQ
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.
First Identified Complaint
John V. Ferris, et al. v. Wynn Resorts Limited, et al.