Big Law

Steve Wynn to pay $20M over sex suits

Wynn Resorts has agreed to accept $41 million from former Chief Executive and Chairman Steve Wynn and insurance carriers as part of a settlement stemming from shareholder lawsuits accusing the company directors of failing to disclose the casino mogul’s alleged pattern of sexual misconduct.

Neither the company nor its current or former directors or officers were found to have committed any wrongdoing in connection with the pending settlement involving multiple public pension funds, the company said in a statement late Wednesday.

The billionaire would pay $20 million in damages while an additional $21 million would come from insurance carriers on behalf of current and former employees of Wynn Resorts, the company said.

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