Steve Wynn steps down amid sexual misconduct allegations
FBN’s Cheryl Casone on Steve Wynn resigning as chairman and CEO of Wynn Resorts.
Ousted casino mogul Steve Wynn is suing his former company, Wynn Resorts, and the Massachusetts Gaming Commission to block the release of an investigative report into allegations of sexual misconduct.
Continue Reading Below
The Massachusetts Gaming Commission began its investigation last January, just days after a Wall Street Journal report detailed several instances of Wynn’s alleged misconduct toward employees, including multiple occasions when he purportedly pressured women to perform sexual acts. Wynn has denied the allegations, claiming they surfaced as a result of a legal battle with his ex-wife, Elaine Wynn.
Wynn’s lawsuit seeks to block a release of the probe’s findings on grounds that it contains information that was subject to attorney-client privilege during his tenure as the company’s CEO, the Las Vegas Review-Journal reported. The Massachusetts Gaming Commission has vowed to fight the lawsuit.
“Recognizing that they have conducted their months-long investigation into Wynn Resorts with total disregard for protecting the privileged communications of Mr. Wynn — who, again, has no ability to determine what communications and materials have been provided to regulators — Mass Gaming officials have simply donned the judge’s robe, cracked the gavel and unilaterally determined that Mr. Wynn has failed to sustain his burden of establishing that any privilege applies to the unknown universe of documents acquired during the Mass Gaming investigation,” the lawsuit says.
Wynn resigned as chairman and CEO of Wynn Resorts last February. The casino company said in an SEC filing at the time that it would withhold a $330 million severance payment to Wynn.
Wynn sold his entire stake in the company he founded last March, netting $2.1 billion.
Source: Read Full Article