Hospitality
Watch: Wynn Resorts CEO Steve Wynn resigns amid lawsuit from shareholders
Shareholders are filing suit against Wynn Resorts CEO Steve Wynn alleging breach of duty. The lawsuit claims that, “Wynn knowingly and intentionally breached his fiduciary duties by engaging in a pattern of intentional egregious misconduct.” Though Wynn denies the allegations, he stepped down Tuesday. Shares of Wynn Resorts fell at least 19% in the days…
Shareholders are filing suit against Wynn Resorts CEO Steve Wynn alleging breach of duty. The lawsuit claims that, “Wynn knowingly and intentionally breached his fiduciary duties by engaging in a pattern of intentional egregious misconduct.” Though Wynn denies the allegations, he stepped down Tuesday. Shares of Wynn Resorts fell at least 19% in the days following. Many claim that board members are too close to Wynn to be independent, but will the lawsuit go to trial?
