Hundreds of Wynn Resorts Ltd. shareholders will split a $70 million class-action lawsuit settlement in a case stemming from allegations the company didn’t disclose the sexual misconduct of former CEO Steve Wynn.
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Wynn Resorts shareholders alleged their stock shares lost value as a result of allegations of sexual misconduct by Steve Wynn, raised in 2018, and the failure of Wynn executives to do anything about it once they were made aware of the allegations.
New York-based law firm Pomerantz LLP announced Thursday that it had filed a motion asking the U.S. District Court in Nevada to grant preliminary approval to the settlement first announced by Wynn Resorts earlier this month.
