LOS ANGELES--(BUSINESS WIRE)--Glancy Prongay & Murray LLP (“GPM”) reminds investors of the April 23, 2018 deadline to file a lead plaintiff motion in the class action 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”).
To obtain information or actively participate in the class action, please visit the Wynn Resorts page on our website at www.glancylaw.com/case/wynn-resorts-limited.
Investors suffering losses on their Wynn Resorts investments are encouraged to contact Lesley Portnoy of GPM to discuss their legal rights in this class action at 310-201-9150 or by email to email@example.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.
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If you purchased shares of Wynn Resorts during the Class Period you may move the Court no later than April 23, 2018 to ask the Court to appoint you as lead. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to firstname.lastname@example.org, or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
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