Law firm withdraws from Okada camp in Wynn legal brawl

LOS ANGELES Fri Nov 16, 2012 6:35pm EST

A combination photograph from file photos show Wynn Resorts CEO Steve Wynn (L) and Universal Entertainment Corporation CEO Kazuo Okada. REUTERS/Staff/Files

A combination photograph from file photos show Wynn Resorts CEO Steve Wynn (L) and Universal Entertainment Corporation CEO Kazuo Okada.

Credit: Reuters/Staff/Files

LOS ANGELES (Reuters) - One of the law firms representing Japanese pachinko tycoon Kazuo Okada in a bitter legal dispute against Wynn Resorts Ltd (WYNN.O) has withdrawn from the case, a lawyer from the firm said on Friday.

Paul Spagnoletti, an attorney with the New York offices of Davis, Polk, Wardwell LLP said his firm has stopped representing the Japanese businessman, who is trying to reverse Wynn's decision to redeem Okada's shares in the company at a steep discount.

Spagnoletti would not cite a reason for the sudden withdrawal, but said his firm had filed court papers declaring its withdrawal. Okada was not immediately available for comment.

Okada and his former partner, Wynn Resorts CEO Steve Wynn, are embroiled in a bitter legal dispute. The Asian businessman, who made his fortune making and marketing "pachinko" game machines, accuses the Vegas casino owner of unfairly ousting him from the board of Wynn Resorts, among other things.

(Reporting By Sue Zeidler. Editing by Andre Grenon)

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