Wynn Resorts Wins a Ruling and Sends Suit Back to State Court – $WYNN

“Wynn Resorts Ltd. (WYNN) persuaded a U.S. judge to send its breach of fiduciary duty lawsuit against Kazuo Okada, the company’s former vice chairman whom it’s trying to remove from its board of directors, back to state court.

U.S. District Judge Larry Hicks at a hearing yesterday in Las Vegas granted Wynn Resorts’ request to remand the case to Nevada state court, where it was filed in February. In March, Okada had the case moved to federal court, arguing that the underlying issue was whether he had violated U.S. law by allegedly making improper payments to foreign officials.”

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