| COMPANY |
Wynn Resorts Limited |
| COURT |
United States District Court for the District of Nevada |
| CASE NUMBER |
18-cv-00479 |
| JUDGE |
The Honorable Gloria M. Navarro |
| CLASS PERIOD |
February 28, 2014 - February 12, 2018 |
| SECURITY TYPE |
Securities |
Case Background:
On February 20, 2018, the initial complaint in this securities class action was filed against Wynn Resorts Limited (“Wynn Resorts” or the “Company”) and certain of Wynn Resorts’ directors and officers, asserting violations of Sections 10(b) and 20(a) of the Securities Exchange Act. This is a federal securities class action brought on behalf of all persons who purchased or otherwise acquired Wynn Resorts securities between March 28, 2016 through February 12, 2018, (“Class Period”) both dates inclusive.
The complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operational and. prospects. Specifically, the complaint alleges that Defendants made false and/or misleading statements and/or failed to disclose that: (1) the Company’s founder and Chief Executive Officer, Stephen A. Wynn had engaged in a pattern of sexual misconduct with respect to Wynn Resorts’ employees, including instances of sexual assault; (2) discovery of the foregoing misconduct would subject the Company to heightened regulatory scrutiny and jeopardize Wynn’s tenure at the Company; and (3) as a result of the foregoing, Wynn Resorts’ shares traded at artificially inflated prices during the Class Period, and class members suffered significant losses and damages.
Current Status of Case:
On March 1, 2019, Lead Plaintiffs filed an Amended Complaint (the “Complaint”). On July 28, 2021, the Court granted in part and denied in part Defendants’ Motion to Dismiss. On March 1, 2023, the Court granted the Motion for Class Certification consisting of all investors who purchased Wynn Resorts securities between March 28, 2016 and February 12, 2018. This matter is in the discovery phase and is ongoing.
If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP: Jon Naji, Esq. (484) 270-1453; or via e-mail at info@ktmc.com. If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.