The information contained on this website is only a summary of the information presented in more detail in the Notice of (I) Proposed Settlement and Plan of Allocation; (II) Settlement Hearing; and (III) Motion for Attorneys' Fees and Litigation Expenses (the “Notice”). A copy of the Notice can be found on the Important Documents page at the top of this website. Because this website is just a summary, you should review the Notice for additional details.
Summary of the Action
This website relates to the proposed Settlement of claims in a securities class action brought by Wynn Resorts investors alleging, among other things, that Defendants Wynn Resorts Limited (“Wynn Resorts”), Stephen Wynn, Kimmarie Sinatra, Matthew Maddox, and Stephen Cootey (collectively, “Defendants”) violated the federal securities laws insofar as they knew about or recklessly disregarded allegations of sexual misconduct against Defendant Stephen Wynn and concealed such allegations through material misrepresentations and omissions of material facts. Defendants deny all allegations of wrongdoing or liability.
Subject to Court approval, Plaintiffs, individually and on behalf of the Class, have agreed to settle the Action in exchange for a settlement payment of $70,000,000 in cash (the “Settlement Amount”) to be deposited into an escrow account. The Net Settlement Fund (i.e., the Settlement Amount plus any and all interest earned thereon (the “Settlement Fund”) less (a) any Taxes, (b) any Notice and Administration Costs, (c) any Litigation Expenses awarded by the Court, d) any attorneys’ fees awarded by the Court, and (e) any awards to Plaintiffs approved by the Court) will be distributed in accordance with a plan of allocation that is approved by the Court, which will determine how the Net Settlement Fund shall be allocated among members of the Class.
The Class consists of:
All individuals and entities that purchased or otherwise acquired Wynn Resorts securities between March 28, 2016 and February 12, 2018, inclusive (the “Class Period”), and who were damaged thereby.
Excluded from the Class are Defendants, the officers and directors of the Company at all relevant times, members of their immediate families and their legal representatives, heirs, successors, or assigns, and any entity in which Defendants have or had a controlling interest. Also excluded from the Class are the persons and entities who requested exclusion from the Class in connection with the mailing of the Class Notice.
Payments to eligible claimants will be made only if the Court approves the Settlement and the Plan of Allocation or a different plan of allocation, only after any appeals are resolved, and after the completion of all claims processing. Please be patient, as this process will take some time to complete.
Please read the Notice to fully understand your rights and options. Copies of the Notice and Claim Form can be found on the Notice and File a Claim pages of this website.
If you have any questions about the Notice, the Settlement, or your eligibility, please do not contact Wynn Resorts or its counsel. All questions should be directed to Lead Counsel or the Claims Administrator.
| YOUR LEGAL RIGHTS AND OPTIONS IN THE SETTLEMENT: |
| SUBMIT A CLAIM FORM ONLINE OR POSTMARKED (IF MAILED) NO LATER THAN FEBRUARY 3, 2025. |
This is the only way to be potentially eligible to receive a payment from the Settlement Fund. If you are a Class Member, you will be bound by the Settlement as approved by the Court and you will give up any Released Plaintiffs’ Claims (defined in ¶ 34 of the Notice) that you have against Defendants and the other Defendants’ Releasees (defined in ¶ 35 of the Notice), so it is in your interest to submit a Claim Form. |
| OBJECT TO THE SETTLEMENT BY SUBMITTING A WRITTEN OBJECTION SO THAT IT IS RECEIVED NO LATER THAN JANUARY 6, 2025. |
If you do not like the proposed Settlement, the proposed Plan of Allocation, or the request for attorneys’ fees, Litigation Expenses, or awards to Plaintiffs, you may object by writing to the Court and explaining why you do not like them. You cannot unless you are a Class Member. |
| ATTEND A HEARING ON JANUARY 27, 2025 AT 10:00 A.M., AND FILE A NOTICE OF INTENTION TO APPEAR SO THAT IT IS RECEIVED NO LATER THAN JANUARY 6, 2025. |
If you have filed a written objection and wish to appear at the hearing, you must also file an intention to appear by January 6, 2025, which allows you to speak in Court, at the discretion of the Court, about the fairness of the proposed Settlement, the plan of allocation, and/or the request for attorneys’ fees, Litigation Expenses, and any awards to Plaintiffs. If you submit a written objection, you may (but you do not have to) attend the hearing. |
| DO NOTHING. |
If you are a member of the Class and you do not submit a valid Claim Form, you will not be eligible to receive any payment from the Settlement Fund. You will, however, remain a member of the Class, which means that you give up your right to sue about the claims that are being resolved by the Settlement and you will be bound by any judgments or orders entered by the Court in the Action. |
How do I obtain more information?
Detailed information about the Settlement is contained in the Notice, a copy of which can be found on the Important Documents page of this website. Additional information can also be obtained by contacting the Claims Administrator by calling toll-free 888-256-6153 or emailing info@WynnSecuritiesLitigation.com or mailing a letter to:
Ferris, et al. v. Wynn Resorts, Limited et al.
c/o JND Legal Administration
PO Box 91471
Seattle, WA 98111
Inquiries should NOT be directed to the Court or the Clerk of the Court.
© JND Legal Administration. All rights reserved.
