Wynn Falls After Largest Shareholder Files Suit

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Wynn Resorts (WYNN) fell 5.2% in morning trading after the company’s top shareholder and vice chairman sued to make the company reveal more about its finances. Japanese businessman Kazuo Okada says in the suit that “despite several written demands, Wynn Resorts insists on keeping its books and records hidden” from him, according to the Las Vegas Review-Journal.

Okada owns almost 20% of Wynn’s shares indirectly. He is particularly interested in details about a $135 million donation the company gave to the University of Macau Development Foundation.

Wynn did not immediately respond to a request for comment from Barrons.com.



Original Article Source by Barrons.com