Ryan & Maniskas, LLP Announces Investigation Of Wynn Resorts, Limited

Ryan & Maniskas, LLP announced that it is investigating potential claims against the board of directors of Wynn Resorts Ltd. (Wynn or the Company) concerning possible breaches of fiduciary duty and other violations of law related by certain officers and directors of Wynn relating to violations of the Foreign Corrupt Practices Act (FCPA) by providing improper monetary benefits to government officials in Macau. Specifically, The Securities and Exchange Commission (SEC) sent a letter to Wynn last month asking about a $135 million gift to the University of Macau Development Foundation. The SEC's inquiry followed allegations in a lawsuit filed in January by a former director of Wynn and its shareholder, Kazuo Okada (Okada). Mr. Okada claims that the donation was improper because, the Foundation is connected to government officials who regulate gambling in Macau; the Foundation sits on government owned land; and the final installment of the payment is due in ten years, the precise moment when Wynn's Macau gaming license is set to expire.