Press release from Business Wire
The Shuman Law Firm Investigates Wynn Resorts, Ltd.
Thursday, April 05, 2012
The Shuman Law Firm Investigates Wynn Resorts, Ltd.21:30 EDT Thursday, April 05, 2012 BOULDER, Colo. (Business Wire) -- The 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 email@example.com or email Mr. Glenn at firstname.lastname@example.org. The Shuman Law Firm represents investors throughout the nation, concentrating its practice in securities class actions and shareholder derivative actions. The Shuman Law FirmKip B. Shuman, Esq., email@example.comRusty E. Glenn, Esq., firstname.lastname@example.orgFax: 303-484-4886Web: www.shumanlawfirm.com