LAS VEGAS (AP) — Wynn Resorts has agreed to accept $41 million from former CEO and chairman Steve Wynn and insurance carriers as part of a settlement stemming from shareholder lawsuits accusing company directors of failing to disclose the casino mogul's alleged pattern of sexual misconduct.

The company said in a statement late Wednesday neither the company nor its current or former directors or officers were found to have committed any wrongdoing in connection with the pending settlement.

The deal is subject to approval of a judge in Las Vegas.

Wynn has denied all allegations of misconduct. He resigned in February 2018.

Wynn Resorts said the settlement reached Wednesday afternoon credits the company with $49 million for changes the company has made since then, including new policies to protect workers and realignment of the board of directors with eight independent members, including four women.

 

Recommended for you