Macau | Wynn Resorts target of new lawsuit by former shareholder - Media

A former Wynn Resorts shareholder has filed a new lawsuit against the company, and former and current board members alleging sexual harassment allegations against the former CEO, Steve Wynn, devaluated the group's stock value

Macau (MNA) – Former Wynn Resorts shareholder,Robert Bruce Bannister, filed a new lawsuit against the company, and former and current board members alleging sexual harassment allegations against the former CEO, Steve Wynn, devaluated the group’s stock value, newspaper the Las Vegas Review reported.

On February of this year, Wynn stepped down from his positions as Chairman of the Board, Executive Director and CEO at Wynn Macau following revelations of a series of sexual misconduct accusations made against him.

According to the recent report, Bannister filed a lawsuit at Clark County District Court against the current CEO, Matthew Maddox, former Wynn executive Kim Sinatra and five former and four current members of the board of directors.

Bannister is looking to prove that the defendants breached their fiduciary duties and receive compensation for damages received, plus punitive damages against Steve Wynn exceeding US$15,000.

The lawsuit alleges that Maddox and other members of the Wynn Resorts board, ‘knowingly’ and ‘intentionally’ failed their fiduciary duties by allowing Wynn’s misconduct.

The lawsuit includes current board members Jay Johnson, Pat Mulroy, Clark Randt and Alvin Shoemaker and former board members John Hagenbuch, Ray Irani, former Nevada Gov. Bob Miller, Edward Virtue and D. Boone Wayson.

The Massachusetts Gaming Commission is set to release its report findings on Wynn’s probity this December, with the former Wynn CEO having filed a lawsuit against the Commission to try and avoid the public release of sensible information connected to its past litigation against former business partner Kazuo Okada.

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