Media focus has been on former partner Kazuo Okada in his dispute with Steve Wynn and the Wynn Resorts Ltd. (WYNN) directors over the payment of $135 million to the University of Macau. Not getting as much attention has been the suit brought by the Louisiana Police Retirement Fund.
The Fund administrators also filed suit against WYNN faulting the gift. Just last month, the group filed a revised suit.
Since, lawyers representing Wynn Resorts Ltd. have asked the judge to dismiss the lawsuit, saying it remained “fatally defective.” They charge that the allegation the defendants knew they were acting illegally when they approved the payment to the university was “completely conclusory.”
It was noted that since the filing of the revised lawsuit, the U.S. Justice Department has said it has been conducting a criminal investigation into Wynn Macau Ltd.’s donation to the school’s foundation.
Ray Poirier is the longtime executive editor at GamingToday.
Contact Ray at [email protected].