A jury will be able to hear about Steve Wynn’s 2005 settlement with a female employee and unauthorized gambling activities by executives, a Nevada judge ruled Wednesday.
Wynn Resorts fired two top executives in 2013 for unauthorized gambling, lawyers said Tuesday during a court hearing.
The Chinese gaming operator will stave off other potential unsolicited suitors while giving the company a key local ally in talks with Macau regulators.
Steve Wynn sold 4.1 million shares of Wynn Resorts on Wednesday, cutting his stake to 7.8 percent.
Steve Wynn has notified Wynn Resorts that he plans to sell his shares, potentially pre-empting a decision by regulators in Massachusetts and Nevada to force him to do so.
Steve Wynn, who settled with two former female employees who accused him of sexual misconduct, skipped his own company’s mandatory sexual harassment awareness training, court testimony shows.
The procedure runs parallel to Wynn Resorts’ surprise move Monday to drop all claims against Steve Wynn’s former business partner Kazuo Okada, ending a six-year legal battle that followed his ouster from Wynn’s board of directors.
Wynn Resorts has dropped all claims against co-founder Kazuo Okada as new Chief Executive Officer Matt Maddox seeks to end a six-year lawsuit and focus his energy on company operations.
Wynn Resorts has agreed to pay Okada the $1.94 billion principal amount on his redemption note, the company said in a statement Thursday after the market closed.
The state of Oregon has sued Nevada gambling mogul Steve Wynn and the board of directors of Wynn Resorts Ltd. for allegedly failing to act in the best interests of shareholders and stop sexual misconduct at the company, state officials said Wednesday.