A shareholder lawsuit has been brought against Steve Wynn and the board of directors for Wynn Resorts Ltd., the State of Oregon, by and through the Oregon State Treasurer and the Oregon Public Employee Retirement Board, on behalf of the Oregon Public Employee Retirement Fund, announced today.
The Nevada lawsuit states that the Oregon Public Employee Retirement Fund was harmed due to massive breaches of fiduciary duty that caused irreparable harm to their long-term shareholder value because of the board’s inactivity to stop a pervasive pattern of sexual misconduct at the company.
Stoll Berne Shareholder Keith Dubanevich states, “We are honored to represent the State and Treasurer Read to bring this important case.”
To read the State of Oregon’s press release and to read a copy of the complaint, click here.
For more news on this, click here.
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March 7, 2018, The Washington Post, Oregon sues mogul Steve Wynn, company after sex allegations
March 7, 2018: NBC News, Oregon sues Steve Wynn, company after sexual misconduct allegations