Okada may be issue at November Wynn board meeting
Wynn Resorts Ltd., locked in a legal battle with co-founder Kazuo Okada, has scheduled its annual shareholders meeting in November, where the board of directors could move to oust the Japanese businessman as a company director.
Wynn Resorts said Friday the meeting will be held Nov. 2 in Las Vegas. Messages left with company executives were not returned.
In February, Wynn Resorts’ Macau unit removed Okada as a nonexecutive director from its board, citing “unacceptable conduct.” Okada, the one-time largest shareholder in Wynn Resorts, improperly gave more than $110,000 in payments and gifts to regulators in the Philippines and their families, the gaming company said.
Okada owned a 20 percent stake in the company before Wynn Resorts redeemed his shares on Feb. 24 after an internal investigation by former FBI director Louis Freeh. Okada filed a lawsuit in January against the gaming company for blocking access to financial documents related to a $135 million donation by Wynn Resorts to the University of Macau.
Contact reporter Chris Sieroty at csieroty@reviewjournal.com or 702-477-3893.
