{"id":70122,"date":"2018-02-14T17:30:19","date_gmt":"2018-02-15T01:30:19","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=70122"},"modified":"2018-02-14T17:34:26","modified_gmt":"2018-02-15T01:34:26","slug":"wynn-resorts-board-weighing-options-after-resignation-of-steve-wynn","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/wynn-resorts-board-weighing-options-after-resignation-of-steve-wynn\/","title":{"rendered":"Wynn Resorts Board, Hoping to Sidestep Liability Issues, Considers Life After Steve Wynn"},"content":{"rendered":"

The board of Wynn Resorts is weighing its options, as the company looks to its future without former chairman and CEO Steve Wynn. The casino mogul stepped down a week ago Tuesday, after a decades-long sex scandal came to a head and rocked the company to its core.<\/p>\n

\"Wynn
The Wynn Resorts board of directors has to decide how to proceed, following the resignation of its former leader Steve Wynn. (Image: AP)<\/figcaption><\/figure>\n

The steps taken by the board may come down to issues of liability. On the same day that Wynn stepped down from his post<\/a>, a shareholder filed a lawsuit alleging that the board of directors knew about at least some aspects of the former CEO\u2019s sexual misconduct, and failed to do anything about it.<\/strong><\/p>\n

\u201c[A] company spokesman confirmed that the board knew of allegations and when questioned whether the board investigated the allegations when it learned of them, did not respond to the question,\u201d the shareholder complaint states. The complaint also says that the company was \u201crecklessly exposed\u201d to liability after Wynn failed to disclose a $7.5 million settlement<\/a> to the board, and further alleges that the board learned of the payment by 2015 at the latest, but still did nothing.<\/p>\n

Limited Liability<\/h2>\n

UNLV associate professor of law Benjamin Edwards told the Las Vegas Review-Journal <\/em>that corporate boards do have a responsibility to know what\u2019s going on inside their companies. However, he added that courts understand that the extent of knowledge that any board as a whole has is, by nature, limited.<\/p>\n

\u201cA corporate board can never know everything, and so courts are very hesitant to hold boards responsible,\u201d Edwards said.<\/strong><\/p><\/blockquote>\n

According to Carliss Chatman, assistant professor of law at Northern Illinois University, the threat of that lawsuit and the potential for more in the future should be enough to get the board to take these issues seriously.<\/p>\n

Speaking to the\u00a0R-J<\/em>, Chatman noted that “it would make sense for the board to figure out the breadth and depth of sexual harassment. Is it enough to get rid of Wynn or is the issue cultural and systemic?\u201d<\/p>\n

Looking Within<\/h2>\n

The board has been conducting its own investigation, though the specifics of how that’s being handled have changed over the past few days. On Monday, the special committee put in place by the board to investigate the allegations against Steve Wynn announced that it had hired the services of Los Angeles law firm Gibson, Dunn & Crutcher LLP in order to review internal company policies and procedures.<\/p>\n

That decision came soon after the committee had determined that it no longer needed the help of O\u2019Melveny & Myers LLP to complete its investigation into Wynn\u2019s alleged misdeeds. A spokesman for the committee told the Review-Journal<\/em> that O\u2019Melveny and Myers had been let go because of Wynn\u2019s resignation, as he had been the subject of the investigation.<\/p>\n

\n

There are many potential avenues for lawsuits to come from, whether they originate from shareholders, an investigation by the Nevada Gaming Control Board, or elsewhere. And while the chances of finding the board liable for its members’ knowledge (or lack thereof) may be slim, even the allegations that they should have known better could be damaging in terms of public perception.<\/p>\n<\/div>\n

Which is something the Wynn Resorts board will no doubt take under advisement as it considers its best path.<\/p>\n","protected":false},"excerpt":{"rendered":"

The board of Wynn Resorts is weighing its options, as the company looks to its future without former chairman and CEO Steve Wynn. The casino mogul stepped down a week ago Tuesday, after a decades-long sex scandal came to a head and rocked the company to its core. The steps taken by the board may […]<\/p>\n","protected":false},"author":42,"featured_media":70123,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,21,60],"tags":[],"acf":[],"yoast_head":"\nWynn Resorts Board Weighing Options After Resignation of Steve Wynn<\/title>\n<meta name=\"description\" content=\"The Wynn Resorts board has options to consider as it responds to the resignation of Steve Wynn and the legal issues that could follow.\" \/>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Wynn Resorts Board Weighing Options After Resignation of Steve Wynn\" \/>\n<meta property=\"og:description\" content=\"The Wynn Resorts board has options to consider as it responds to the resignation of Steve Wynn and the legal issues that could follow.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/wynn-resorts-board-weighing-options-after-resignation-of-steve-wynn\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2018-02-15T01:30:19+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2018-02-15T01:34:26+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2018\/02\/Wynn-Board.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"720\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Casino.org Staff Writer\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Casino.org Staff Writer\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/wynn-resorts-board-weighing-options-after-resignation-of-steve-wynn\/\",\"url\":\"https:\/\/www.casino.org\/news\/wynn-resorts-board-weighing-options-after-resignation-of-steve-wynn\/\",\"name\":\"Wynn Resorts Board Weighing Options After Resignation of Steve Wynn\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/wynn-resorts-board-weighing-options-after-resignation-of-steve-wynn\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/wynn-resorts-board-weighing-options-after-resignation-of-steve-wynn\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2018\/02\/Wynn-Board.jpg\",\"datePublished\":\"2018-02-15T01:30:19+00:00\",\"dateModified\":\"2018-02-15T01:34:26+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/8c48bf89dc86da77b4d856c7b3b78d77\"},\"description\":\"The Wynn Resorts board has options to consider as it responds to the resignation of Steve Wynn and the legal issues that could follow.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/wynn-resorts-board-weighing-options-after-resignation-of-steve-wynn\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/wynn-resorts-board-weighing-options-after-resignation-of-steve-wynn\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/wynn-resorts-board-weighing-options-after-resignation-of-steve-wynn\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2018\/02\/Wynn-Board.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2018\/02\/Wynn-Board.jpg\",\"width\":1280,\"height\":720,\"caption\":\"The Wynn Resorts board of directors will need to weigh its options on how to proceed following the resignation of Steve Wynn. (Image: AP)\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.casino.org\/news\/wynn-resorts-board-weighing-options-after-resignation-of-steve-wynn\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"News\",\"item\":\"https:\/\/www.casino.org\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Commercial Gaming\",\"item\":\"https:\/\/www.casino.org\/news\/commercial-gaming\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Wynn Resorts Board, Hoping to Sidestep Liability Issues, Considers Life After Steve Wynn\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.casino.org\/news\/#website\",\"url\":\"https:\/\/www.casino.org\/news\/\",\"name\":\"Casino.org\",\"description\":\"Latest Casino and Gaming News\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.casino.org\/news\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/8c48bf89dc86da77b4d856c7b3b78d77\",\"name\":\"Casino.org Staff Writer\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/0853bd574da5b217483afb1fbbee33a5?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/0853bd574da5b217483afb1fbbee33a5?s=96&d=mm&r=g\",\"caption\":\"Casino.org Staff Writer\"},\"url\":\"https:\/\/www.casino.org\/news\/author\/corg-staff-writer\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Wynn Resorts Board Weighing Options After Resignation of Steve Wynn","description":"The Wynn Resorts board has options to consider as it responds to the resignation of Steve Wynn and the legal issues that could follow.","robots":{"index":"noindex","follow":"follow"},"og_locale":"en_US","og_type":"article","og_title":"Wynn Resorts Board Weighing Options After Resignation of Steve Wynn","og_description":"The Wynn Resorts board has options to consider as it responds to the resignation of Steve Wynn and the legal issues that could follow.","og_url":"https:\/\/www.casino.org\/news\/wynn-resorts-board-weighing-options-after-resignation-of-steve-wynn\/","og_site_name":"Casino.org","article_publisher":"https:\/\/www.facebook.com\/Casino.OrgNews","article_published_time":"2018-02-15T01:30:19+00:00","article_modified_time":"2018-02-15T01:34:26+00:00","og_image":[{"width":1280,"height":720,"url":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2018\/02\/Wynn-Board.jpg","type":"image\/jpeg"}],"author":"Casino.org Staff Writer","twitter_card":"summary_large_image","twitter_creator":"@Casino_Org","twitter_site":"@Casino_Org","twitter_misc":{"Written by":"Casino.org Staff Writer","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.casino.org\/news\/wynn-resorts-board-weighing-options-after-resignation-of-steve-wynn\/","url":"https:\/\/www.casino.org\/news\/wynn-resorts-board-weighing-options-after-resignation-of-steve-wynn\/","name":"Wynn Resorts Board Weighing Options After Resignation of Steve Wynn","isPartOf":{"@id":"https:\/\/www.casino.org\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.casino.org\/news\/wynn-resorts-board-weighing-options-after-resignation-of-steve-wynn\/#primaryimage"},"image":{"@id":"https:\/\/www.casino.org\/news\/wynn-resorts-board-weighing-options-after-resignation-of-steve-wynn\/#primaryimage"},"thumbnailUrl":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2018\/02\/Wynn-Board.jpg","datePublished":"2018-02-15T01:30:19+00:00","dateModified":"2018-02-15T01:34:26+00:00","author":{"@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/8c48bf89dc86da77b4d856c7b3b78d77"},"description":"The Wynn Resorts board has options to consider as it responds to the resignation of Steve Wynn and the legal issues that could follow.","breadcrumb":{"@id":"https:\/\/www.casino.org\/news\/wynn-resorts-board-weighing-options-after-resignation-of-steve-wynn\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.casino.org\/news\/wynn-resorts-board-weighing-options-after-resignation-of-steve-wynn\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.casino.org\/news\/wynn-resorts-board-weighing-options-after-resignation-of-steve-wynn\/#primaryimage","url":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2018\/02\/Wynn-Board.jpg","contentUrl":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2018\/02\/Wynn-Board.jpg","width":1280,"height":720,"caption":"The Wynn Resorts board of directors will need to weigh its options on how to proceed following the resignation of Steve Wynn. (Image: AP)"},{"@type":"BreadcrumbList","@id":"https:\/\/www.casino.org\/news\/wynn-resorts-board-weighing-options-after-resignation-of-steve-wynn\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"News","item":"https:\/\/www.casino.org\/news\/"},{"@type":"ListItem","position":2,"name":"Commercial Gaming","item":"https:\/\/www.casino.org\/news\/commercial-gaming\/"},{"@type":"ListItem","position":3,"name":"Wynn Resorts Board, Hoping to Sidestep Liability Issues, Considers Life After Steve Wynn"}]},{"@type":"WebSite","@id":"https:\/\/www.casino.org\/news\/#website","url":"https:\/\/www.casino.org\/news\/","name":"Casino.org","description":"Latest Casino and Gaming News","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.casino.org\/news\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/8c48bf89dc86da77b4d856c7b3b78d77","name":"Casino.org Staff Writer","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/0853bd574da5b217483afb1fbbee33a5?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/0853bd574da5b217483afb1fbbee33a5?s=96&d=mm&r=g","caption":"Casino.org Staff Writer"},"url":"https:\/\/www.casino.org\/news\/author\/corg-staff-writer\/"}]}},"_links":{"self":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts\/70122"}],"collection":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/users\/42"}],"replies":[{"embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/comments?post=70122"}],"version-history":[{"count":0,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts\/70122\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/media\/70123"}],"wp:attachment":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/media?parent=70122"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/categories?post=70122"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/tags?post=70122"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}