PENDING
Ferris et al v. Wynn Resorts Limited et al
SETTLEMENT FUND: TBD
FILING DEADLINE: TBD
CASE NUMBER:
2:18-CV-00479
CLASS PERIOD:
March 28, 2016 — February 12, 2018
NON-SETTLING DEFENDANTS
ELIGIBLE CLASS
All individuals and entities that purchased or otherwise acquired Wynn Resorts securities between March 28, 2016 and February 12, 2018, inclusive (the “Class Period”), and who were damaged thereby.
Excluded from the Class are Defendants, the officers and directors of the Company at all relevant times, members of their immediate families and their legal representatives, heirs, successors, or assigns, and any entity in which Defendants have or had a controlling interest.
PROPOSED INSTRUMENTS
Wynn Resorts securities
Preliminary Allegations
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), Stephen (Steve) A. Wynn 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 Wynn’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.
Case Summary
Class action on behalf of a class consisting of all individuals and entities that purchased or otherwise acquired Wynn Resorts securities between March 28, 2016 and February 12, 2018, inclusive (the “Class Period”), and who were damaged thereby. Excluded from the Class are Defendants, the officers and directors of the Company at all relevant times, members of their immediate families and their legal representatives, heirs, successors, or assigns, and any entity in which Defendants have or had a controlling interest.
Case UpdatesFebruary 24, 2017
Filed 2016 10-K
January 26, 2018 “Dozens of People Recount Pattern of Sexual Misconduct by Las Vegas Mogul Steve Wynn” February 13, 2018 “Women File Sexual Assault Reports Against Steve Wynn with Vegas Police” |
Next StepsAll individuals and entities that purchased or otherwise acquired Wynn Resorts securities between March 28, 2016 and February 12, 2018, should contact Battea Class Action Services today. |
BRIEF COMPANY PROFILE
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. Founded in 2002 by Stephen Wynn, the Company is based in Las Vegas, Nevada, and its stock trades on the NASDAQ Global Market (NASDAQ) under the ticker symbol WYNN.