NEW YORK, March 15, 2012 /PRNewswire/ -- Faruqi &
Faruqi, LLP, a national law firm concentrating on investor rights,
consumer rights and enforcement of federal antitrust laws, is
investigating potential wrongdoing at Wynn Resorts Ltd. ("Wynn" or
the "Company") (NASDAQ: WYNN). The investigation focuses on
whether certain officers and directors of Wynn violated the Foreign
Corrupt Practices Act ("FCPA") by providing improper monetary
benefits to government officials in Macau.
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Request more information now by clicking here:
www.faruqilaw.com/WYNN
The Securities and Exchange Commission ("SEC") sent a letter to
Wynn last month asking about a $135
million gift to the University of Macau Development
Foundation. The SEC' s inquiry followed allegations in a
lawsuit filed in January by a former director of Wynn and its
largest shareholder, Kazuo Okada
("Okada"). Mr. Okada claims that the donation was improper
because (1) the Foundation is connected to government officials who
regulate gambling in Macau; (2)
the Foundation sits on government owned land; and (3) the final
installment of the payment is due in ten years, the precise moment
when Wynn's Macau gaming license
is set to expire. Should Wynn be found to be in violation of
the FCPA, damages could range anywhere from fines and penalties to
a loss of its status as a licensed gaming operator in the
State of Nevada and elsewhere.
Faruqi & Faruqi, LLP is a national law firm which represents
investors and individuals in class action and derivative
litigation. The firm is focused on providing exemplary legal
services in complex litigation in the areas of securities,
shareholder, antitrust and consumer litigation, through all phases
of litigation. The firm has an experienced trial team which
has achieved significant victories on behalf of the firm's
clients.
If you are a current WYNN shareholder, and you would like to
discuss your legal rights, visit www.faruqilaw.com/WYNN. You
can also contact us by calling Beth
Keller toll free at 877-247-4292 or at 212-983-9330 or by
sending an e-mail to bkeller@faruqilaw.com.
Contact:
Faruqi & Faruqi, LLP
Beth Keller, Esq.
369 Lexington Avenue, 10th Floor
New York, NY 10017
Telephone: (877) 247-4292 or (212) 983-9330
E-mail: bkeller@faruqilaw.com
(NASDAQ: WYNN)
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