The settlement is based on numerous claims of shareholders who were filed in 2018, and then combined into a single lawsuit in Clark Circuit County Court in Las Vegas. The plaintiffs include the Pension Fund of the State of New York, Pennsylvania Operational Engineers for Construction and Different Pension Funds, as well as municipal firefighters in California.In trials, it was argued that officials and director Wynn Resorts knew about cases of sexual misconducts related to the company’s founder, former general director and chairman, but did not reveal and did not apply to them properly.
Wynn Resorts Wednesday said that the agreement reached $ 49 million for changes made from the moment of publishing the WSJ report. The measures taken include a new policies for the protection of employees and adding eight new independent members of the Board of Directors, including four women directors.Commenting on their lawsuit and recent settlement, the New York Controller Thomas Danapoli stated on Wednesday that they sued in response to serious and repeated accusations of sexual misconduct from Steve Winna and the estimated refusal of the former collegium to stop him. Danapoli is responsible for the Pension Fund in New York in the amount of 209 billion dollars. It is assumed that the fund owns Wynn Resorts shares by 23 million dollars.
The state controller added that they were glad that the reforms of this agreement and those that were taken after the start of our trial will protect employees and shareholders of Wynn Resorts from the future harm.Assignments about sexual misdemeanor against Mr Wine prompted regulatory investigations in Nevada and Massachusetts, two states, where Wynn Resorts has a license to manage the resorts casino. In Nevada, the company was forced to pay a penalty of $ 20 million for not considering accusations against his former boss, and Massachusetts state regulators imposed a fine of $ 35 million. Mr. Winno has not yet been ordered to pay anything to regulators.
Naga 3 project for casino