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4-Traders Homepage  >  Equities  >  Nasdaq  >  Wynn Resorts    WYNN

WYNN RESORTS (WYNN)
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Wynn Resorts, Limited : Wynn Resorts Investor Investigation - The Briscoe Law Firm and Powers Taylor, LLP Announce Investigation of the Officers and Directors of Wynn Resorts, Ltd.

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03/30/2012 | 11:15pm CEST

Former United States Securities and United States Securities and Exchange Commission attorney Willie Briscoe, founder of The Briscoe Law Firm, PLLC, and the securities litigation firm of Powers Taylor, LLP announce that the firms are investigating legal claims against the officers and Board of Directors of Wynn Resorts, Ltd. ("Wynn") (NASDAQ: WYNN) related to potential violations of the Foreign Corrupt Practices Act by allegedly providing improper monetary benefits to the University of Macau Development Foundation.

If you are an affected investor and you want to learn more about the lawsuit or join the action, contact Patrick Powers at Powers Taylor, LLP, toll free (877) 728-9607, via e-mail at [email protected], or Willie Briscoe at The Briscoe Law Firm, PLLC, (214) 706-9314, or via email at [email protected]. There is no cost or fee to you.

The Securities and Exchange Commission ("SEC") recently sent a letter to Wynn asking about a $135 million gift to the University of Macau Development Foundation. The SEC's inquiry was made as result of allegations in a lawsuit filed in January by a former director of Wynn and its largest shareholder, Kazuo Okada ("Okada"). According to his lawsuit, Okada claims that the donation 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 ten years, the precise moment when Wynn's Macau gaming license is set to expire.

"If Wynn is found to have violated the Foreign Corrupt Practices Act, then the company could face a range of potential damages including everything from monetary fines and penalties to losing its status as a licensed gaming operator in Nevada and elsewhere. Based on our investigation, we are prepared to pursue litigation to preserve the company and the value of Wynn's stock for all shareholders, including seeking removal of certain officers and directors and monetary payments," said shareholder rights attorney Willie Briscoe.

The Briscoe Law Firm, PLLC is a full service business litigation, commercial transaction, and public advocacy firm with more than 20 years of experience in complex litigation and transactional matters.

Powers Taylor, LLP is a boutique litigation law firm that handles a variety of complex business litigation matters, including claims of investor and stockholder fraud, shareholder oppression, shareholder derivative suits, and security class actions.

Powers Taylor, LLP
Patrick Powers, 877-728-9607
[email protected]
or
The Briscoe Law Firm, PLLC
Willie Briscoe, 214-706-9314
[email protected]


© Business Wire 2012
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Financials ($)
Sales 2018 7 063 M
EBIT 2018 1 407 M
Net income 2018 836 M
Debt 2018 6 252 M
Yield 2018 1,51%
P/E ratio 2018 24,88
P/E ratio 2019 20,42
EV / Sales 2018 3,85x
EV / Sales 2019 3,43x
Capitalization 20 958 M
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Mean consensus OUTPERFORM
Number of Analysts 19
Average target price 206 $
Spread / Average Target 8,2%
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Managers
NameTitle
Matthew O. Maddox President & Chief Executive Officer
Daniel Boone Wayson Non-Executive Chairman
Craig S. Billings CFO, Treasurer & Chief Accounting Officer
Robert Jos Miller Lead Independent Director
Alvin V. Shoemaker Independent Director
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