New lawsuit accuses LV Sands of mismanagement in China

Las Vegas Sands Corp. has been served with a new lawsuit alleging mismanagement and negligence in overseeing the gaming company’s operations in China.

The latest lawsuit was filed Monday in U.S. District Court for Nevada in Las Vegas against Sheldon Adelson, chairman and chief executive of the Las Vegas Sands, and a number of his company’s officers.

The plaintiff in this case is the Louisiana Municipal Police Employees Retirement System. The public employee pension fund is seeking to force the company to sue its own directors to recover damages, because directors failed to ensure management was operating properly in China.

On April 1, a shareholder “derivative” lawsuit was filed in federal court in Las Vegas against Adelson and other executives and directors claiming they exposed the company to costly investigations of its compliance with an anti-bribery law.

Both lawsuits relate to the company’s decision to fire Macau CEO Steven C. Jacobs in October , who claimed he was fired after not complying with Adelson’s demands “that he take certain actions in violation of the U.S. Foreign Corrupt Practices Act.”