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Wynn Resorts, Limited : The Law Firm of Levi & Korsinsky, LLP Launches an Investigation into Possible Securities Laws Violations by Wynn Resorts Ltd.

03/23/2012 | 12:20pm US/Eastern

Levi & Korsinsky is investigating potential claims on behalf of purchasers of Wynn Resorts Ltd. ("Wynn Resorts" or the "Company") (Nasdaq: WYNN) securities concerning possible violations of federal securities laws. The investigation stems from allegations that certain of the Company's officers and directors violated the Foreign Corrupt Practices Act by providing improper monetary benefits to government officials in Macau.

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In May 2011, Wynn Macau--a majority-owned subsidiary of Wynn Resorts--made a $135 million donation to the University of Macau Development Foundation ("the Foundation"). On January 11, 2012, a lawsuit was filed in the District Court of Clark County on behalf of Kazuo Okada, a former Wynn Resorts board member and its largest shareholder; the suit alleges that the donation was improper because: (a) the Foundation is connected to government officials who regulate gambling in Macau; (b) the Foundation sits on government-owned land; and (c), the final installment of the payment is due in 10 years--when Wynn Resorts' Macau gaming license is set to expire. Wynn Resorts is now under investigation by the Securities and Exchange Commission.

If you own Wynn Resorts stock and wish to obtain additional information about the investigation and your legal rights, please contact Joseph E. Levi, Esq. either via email at or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit

Levi & Korsinsky is a national firm with offices in New York and Washington D.C. The firm has extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. The attorneys at Levi & Korsinsky have been appointed by numerous courts throughout the country to serve as lead counsel on behalf of shareholders in major securities lawsuits and have successfully recovered multimillion-dollar damages awards on behalf of investors. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.

Levi & Korsinsky, LLP
Joseph Levi, Esq.
Eduard Korsinsky, Esq.
Tel: 212-363-7500
Toll Free: 877-363-5972
Fax: 212-363-7171

© Business Wire 2012
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