The information contained on this website is only a summary of the information presented in more detail in the Notice of Pendency of Class Action. Because this website is just a summary, you should review the Notice for additional details.
Summary of the Action
The Notice is being sent pursuant to Rule 23 of the Federal Rules of Civil Procedure and an Order of the United States District Court for the District of Nevada (the "Court"), entered March 1, 2023, certifying the above-captioned Action as a class action. The purpose of the Notice is to inform you of: (a) the pendency of the above-captioned class action in the United States District Court for the District of Nevada (the “Action”); (b) the certification of the Class defined above, of which you may be a member (“Class Member”); and (c) your right to be excluded from the Class. This Action has not been settled and continues to be litigated. Accordingly, no claim form need be filed at this time.
The Notice merely informs you that the Action is pending and that you may be a member of the Class. However, this Action has not been fully adjudicated on the merits yet, and the parties have not yet agreed to any settlement. Thus, there currently is no judgment in favor of the Class and the provision of this notice does not suggest whether there will be a judgment in favor of the Class or any monetary recovery.
This Action is a securities class action lawsuit alleging violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, as well as Securities and Exchange Commission Rule 10b-5. This lawsuit alleges that Defendants knew about or recklessly disregarded allegations of sexual misconduct against Stephen Wynn and concealed them. In concealing the allegations of sexual misconduct, Defendants made material misrepresentations or omitted material facts. Defendants are Wynn Resorts, Limited ("Wynn Resorts"), Stephen Wynn, Kimmarie Sinatra, Matthew Maddox, and Stephen Cootey.
Defendants deny all claims and wrongdoing asserted in the Action and any liability arising out of the conduct alleged in the Second Amended Class Action Complaint.
Discovery in this Action is ongoing and fact discovery is set to be complete by May 31, 2024. The parties will have the opportunity to file motions for summary judgment to seek Court resolution of the case and/or specific claims within the case.
Opening briefs in support of summary judgment are due January 15, 2025.
The Class consists of:
All individuals and entities that purchased or otherwise acquired Wynn Resorts securities between March 28, 2016 and February 12, 2018, inclusive (the “Class Period”), and who were damaged thereby.
Excluded from the Class are Defendants, the officers and directors of the Company at all relevant times, members of their immediate families and their legal representatives, heirs, successors, or assigns, and any entity in which Defendants have or had a controlling interest.
Please read the Notice to fully understand your rights and options. A copy of the Notice can be found on the Important Documents page of this website.
| YOUR LEGAL RIGHTS AND OPTIONS IN THE ACTION |
| Do Nothing |
If you choose to remain in the Class, you will be bound by all orders and judgments in this Action, whether favorable or unfavorable. If the Class prevails on the common issues, or if a settlement is reached, you may be able to recover an award. If Defendants prevail, you may not pursue a lawsuit on your own behalf with regard to any of the issues decided in this Action. Your interests are being represented by the Class Representatives and Class Counsel. You will not be personally responsible for attorneys’ fees or costs unless you hire your own individual attorney. Class Counsel has agreed to represent the Class on a contingent fee basis, which means that it will be awarded fees and costs only if it succeeds in obtaining a recovery from one or more of the Defendants. Any attorney’s fees and costs will be awarded by this Court from the settlement or judgment, if any, obtained on behalf of the Class. See page 3 of the Notice for more details. |
| Ask to be Excluded by March 7, 2024 |
If you choose to be excluded from the Class, you will not be bound by any judgment in this Action, nor will you be eligible to share in any recovery that might be obtained in this Action. If you choose to be excluded, or in other words, "opt-out" of the Action, you may individually pursue any legal rights that you may have against any of the Defendants. Please note that if you exclude yourself from the Class and decide to pursue your own action individually, you will not be able to pursue certain claims if the applicable statute of limitations and/or statute of repose under 28 U.S.C § 1658(b) has lapsed. Requests for exclusion must adhere to the procedures on page 3 of the Notice and be postmarked no later than March 7, 2024. The Exclusion Deadline has passed. |
How do I obtain more information?
Detailed information about the Action is contained in the Notice, a copy of which can be found on the Important Documents page of this website. Additional information can also be obtained by contacting the Notice Administrator by calling toll-free 888-256-6153 or emailing info@WynnSecuritiesLitigation.com or mailing a letter to:
Ferris, et al. v. Wynn Resorts, Limited et al.
c/o JND Legal Administration
PO Box 91471
Seattle, WA 98111
Inquiries should NOT be directed to the Court or the Clerk of the Court.
© JND Legal Administration. All rights reserved.
