January 27, 2018 / 5:15 AM / in a year

Wynn Resorts board opens inquiry into sexual misconduct accusations against chairman

(Reuters) - The Wynn Resorts Ltd (WYNN.O) board of directors formed a special committee on Friday to investigate sexual misconduct allegations reported in the Wall Street Journal against the company’s chairman and CEO, Steve Wynn, the board said in a statement.

The announcement came hours after the Journal detailed accounts it said were obtained from dozens of past and present employees who accused the billionaire casino mogul of creating a hostile work environment for women. The company’s stock fell more than 10.1 percent in heavy trading to close at $180.29 on the Nasdaq exchange following Friday’s article.

Reporting and writing by Steve Gorman in Los Angeles; Editing by Nick Macfie

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