Kazuo Okada files lawsuit over Special Meeting of Shareholders
25 January 2013LAS VEGAS, Nevada -- (PRESS RELEASE) -- Kazuo Okada today announced that he has filed a lawsuit in Federal Court to enjoin the Special Meeting of Shareholders called by Wynn Resorts (WYNN) for February 22, 2013, for the purpose of voting on a proposal by the Executive Committee of Wynn Resorts to remove Mr. Okada as a director.
The complaint, filed in the United States District Court in Las Vegas, Nevada, alleges that the January 3, 2013 proxy filed by Wynn Resorts (“the Company”) to call the Special Meeting makes numerous materially false and misleading statements, violating Section 14(a) of the Securities Exchange Act of 1934 and SEC Rule 14a-9.
The suit by Mr. Okada seeks preliminary and permanent injunctive relief to prevent the February 22, 2013 Special Meeting from occurring on the record of the Company’s proxy.
Mr. Okada is a co-founder and member of the Board of Directors of Wynn Resorts, Ltd. He is founder and Chairman of Universal Entertainment Corporation.
Mr. Okada is represented in this litigation by the law firm of Morgan, Lewis & Bockius, LLP.