Actually its not a 'News' since the lawsuit is from January, but the whole case is getting more and more interesting.

Cliffs:

- Kazuo Okada (largest shareholder of Wynn) "claiming he has been denied access to the casino operator's books and records"
- proposing his own slate of candidates for Wynn's board of directors
- Wynn lawyers talking about "half-truths and sweeping generalizations"
- "U.S. Securities and Exchange Commission is investigating Wynn Resorts Ltd's business practices" ... amongst others a dubious $135m donation "to a foundation run by the University of Macau"


Sources:

Jan 11th - http://www.lvrj.com/business/largest...137132143.html
Jan 18th - http://www.lvrj.com/business/investo...137615358.html
Jan 30th - http://www.lvrj.com/business/wynn-re...138338314.html
Feb 13th - http://www.lvrj.com/business/sec-pro...139255308.html

Wynn fires back: http://www.reuters.com/article/2012/...81I0ED20120220

Didn't Wynn Buy back Okada shares this weekend?

check ILikeBeers link


anyway, Okada responded:

http://www.lvrj.com/business/wynn-re...139711263.html
http://www.vegasinc.com/news/2012/fe...share-redempt/

the whole thing is getting more interesting ...


quick Update:

now the 'scandal' hits the Philippines. One of Okadas companies wants to build a big resort in Pasay City. Now some ppl. want him and out, because of the alleged payments to members of Philippine Gaming Corp. (Pagcor).

'fun fact': Since both, wynn resorts and okadas firm(s), are interested in projects the the Philippines (?), okada wasn't allow to check the books at wynn. this was the beginning of this whole mess.


further information (generally):

http://www.reuters.com/article/2012/...81N02J20120224
http://globalnation.inquirer.net/268...94pagcor-chief


side note: End of the last week Okada was thrown out of the board of wynn macau because of the bribery allegations. Source (i.a.): http://www.reuters.com/article/2012/...8DN6FT20120224

for the lulz

http://www.lvrj.com/business/philipp...140974003.html

Bloomberg articla about an interview Okada gave last week. Some interesting details and his pov.

Source: http://www.bloomberg.com/news/2012-0...-nuclear-.html

was kinda busy the last days/week, so i 'missed' to post some of the updates

March, 8th:

Source: http://www.lvrj.com/business/okada-w...141989643.html

Source: http://www.vegasinc.com/news/2012/ma...l-document-bi/

March, 12th:

Source: http://www.lvrj.com/business/okada-a...142375675.html

Source: http://www.forbes.com/sites/nathanie...value-at-risk/