Shuman Law Firm today announced that it is investigating potential
claims against certain officers and directors of Wynn Resorts, Ltd.
(“Wynn Resorts" or the "Company”) (NASDAQ: WYNN).
The Firm’s investigation focuses on issues raised in a letter the
Company received from the Securities Exchange Commission (“SEC”) on
February 8, 2012, in which the SEC requesting that the Company preserve
information relating to a $135 million donation made by Wynn Resorts to
the University of Macau, any other donations to other educational
charitable institutions, including the University of Macau Development
Foundation and Wynn Resorts’ casino or concession gaming licenses or
renewals in Macau.
Prior to the Company receiving the SEC letter, on January 11, 2012,
Kazuo Okada (“Okada”), a former Wynn Resorts board member and its
largest shareholder, filed a lawsuit in Clark County, Nevada, alleging
that the donation to the University of Macau Development Foundation was
improper because: (1) the Foundation is connected to government
officials who regulate gambling in Macau; (2) the Foundation sits on
government-owned land; and (3), the final installment of the payment is
due in 10 years – when Wynn Resorts’ Macau gaming license is set to
expire. If confirmed, the facts alleged by Okada may establish
violations of the U.S. Foreign Corrupt Practices Act.
If you currently own Wynn Resorts common stock and are interested in
discussing your rights as a shareholder, or have information relating to
this investigation, please contact Kip B. Shuman or Rusty E. Glenn toll
free at (866) 974-8626 or email Mr. Shuman at firstname.lastname@example.org
or email Mr. Glenn at email@example.com.
The Shuman Law Firm represents investors throughout the nation,
concentrating its practice in securities class actions and shareholder