Shareholder Makes Allegations Against Wynn
(Tokyo) — Wynn Resort’s largest shareholder is fighting back against efforts to remove him from the board of directors. In a federal lawsuit, Kazuo Okada alleges the Las Vegas gaming firm violated racketeering laws, when board members voted to redeem his shares. Okada contends his 20-percent stake in Wynn Resorts remains outstanding. The company claims in an internal investigation that Okada violated federal anti-corruption laws, by making improper payments to Philippine gaming officials. Wynn Resorts says it will hold a special board meeting to remove Okada from the board, but no date has been set.