Press release from Business Wire
Ryan & Maniskas, LLP Announces Class Action Lawsuit Against Las Vegas Sands Corp.
Friday, May 28, 2010
Ryan & Maniskas, LLP Announces Class Action Lawsuit Against Las Vegas Sands Corp.22:00 EDT Friday, May 28, 2010 WAYNE, Pa. (Business Wire) -- Ryan & Maniskas, LLP (www.rmclasslaw.com/cases/lvs) announces that a class action lawsuit has been filed in the United States District Court for the District of Nevada on behalf of purchasers of the common stock of Las Vegas Sands Corp. ("Las Vegas Sands" or the "Company") (NYSE:LVS) during the period between August 1, 2007 and November 6, 2008, inclusive (the "Class Period"). For more information regarding this class action suit, please contact Ryan & Maniskas, LLP (Richard A. Maniskas, Esquire) toll-free at (877) 316-3218 or by email at email@example.com or visit: www.rmclasslaw.com/cases/lvs. The complaint, seeking to pursue remedies under the Securities Exchange Act of 1934, charges that defendants failed to disclose during the Class Period the following: (1) that increasing competition in Macau was eroding the Company's foothold in the region, which undermined defendants' representations that everything was proceeding according to plan; (2) that the Company was facing a significant liquidity crisis as a result of its ongoing expenditure of capital in Macau and Singapore, which forced the Company to divert funds from other operations to develop its Asian properties; (3) that the Company could not weather the economic downturn, because the credit markets were drying up; (4) that the Company failed to timely access credit markets; and (5) that increasing visitor restrictions in Macau were expected by defendants to have a devastating effect on Company. On November 6, 2008, the Company's auditor, PricewaterhouseCoopers LLP, expressed doubt about the Company's ability to continue as a going concern, alerting shareholders to the true extent of the Company's perilous condition, the value of Las Vegas Sands stock declined significantly. If you are a member of the class, you may, no later than July 26, 2010, request that the Court appoint you as lead plaintiff of the class. A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member's claim is typical of the claims of other class members, and that the class member will adequately represent the class. Under certain circumstances, one or more class members may together serve as "lead plaintiff." Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. You may retain Ryan & Maniskas, LLP or other counsel of your choice, to serve as your counsel in this action. For more information about the case or to participate online, please visit: www.rmclasslaw.com/cases/lvs, or contact Richard A. Maniskas, Esquire toll-free at (877) 316-3218, or by e-mail at firstname.lastname@example.org. For more information about class action cases in general or to learn more about Ryan & Maniskas, LLP, please visit our website: www.rmclasslaw.com.