Processing your request


please wait...

Case Page

 

Case Status:    ONGOING    
On or around 10/22/2020 (Date of last review)

Filing Date: October 22, 2020

According to the Complaint, Las Vegas Sands Corp., together with its subsidiaries, develops, owns, and operates integrated resorts in Asia and the U.S. Its integrated resorts feature accommodations, gaming, entertainment and retail malls, convention and exhibition facilities, celebrity chef restaurants, and other amenities. Las Vegas Sands' properties include, among others, the Marina Bay Sands resort in Singapore, which operates a casino.

The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company's business. Specifically, the Complaint alleges Defendants made false and/or misleading statements and/or failed to disclose that: (i) weaknesses existed in Marina Bay Sands' casino control measures pertaining to fund transfers; (ii) the Marina Bay Sands' casino was consequently prone to illicit fund transfers that implicated, among other issues, the transfer of customer funds to unauthorized persons and potential breaches in the Company's anti-money laundering procedures; (iii) the foregoing foreseeably increased the risk of litigation against the Company, as well as investigation and increased oversight by regulatory authorities; (iv) Las Vegas Sands had inadequate disclosure controls and procedures; (v) consequently, all the foregoing issues were untimely disclosed; and (vi) as a result, the Company's public statements were materially false and misleading at all relevant times.

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 #: 20-CV-01958
JUDGE: Hon. Gloria M. Navarro
DATE FILED: 10/22/2020
CLASS PERIOD START: 02/27/2016
CLASS PERIOD END: 09/15/2020
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Muehlbauer Law Office, Ltd.
  2. Pomerantz LLP (New York)
  3. Portnoy Law Firm
No Document Title Filing Date
—Reference Complaint Complaint Related Data is not available
—Related District Court Filings Data is not available