BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of investors that purchased Wynn Resorts, Limited (“Wynn Resorts” or the “Company”) (NASDAQ: WYNN) securities between February 28, 2014, and January 25, 2018, inclusive (the “Class Period”). Wynn Resorts investors have until April 23, 2018 to file a lead plaintiff motion.
Investors suffering losses on their Wynn Resorts investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to howardsmith@howardsmithlaw.com.
On January 26, 2018, multiple news sources reported that CEO Steve Wynn was accused of a pattern of sexual misconduct by past and present employees. On this news shares of Wynn fell $20.31, or more than 10%, to close at $180.29 on January 26, 2018, and continued to fall nearly 10% in the next trading session to close at $163.48 per share on January 29, 2018, thereby injuring investors. And, on February 6, 2017, the Company announced that effective immediately Steve Wynn had resigned his positions as Chairman and CEO of Wynn.
The Complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operational and compliance policies. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) the Company’s founder and Chief Executive Officer (“CEO”), Stephen (Steve) A. Wynn had engaged in a pattern of sexual misconduct with respect to Wynn Resorts employees, including instances of sexual assault; (ii) discovery of the foregoing misconduct would subject the Company to heightened regulatory scrutiny and jeopardize Wynn’s tenure at the Company; and (iii) 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.
If you purchased shares of Wynn Resorts, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.
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