Steve Wynn Surrenders Control Over Ex-Wife Elaine's Shares
- She seeks control over 9.4% stake in casino-resort company
- Former holder Okada’s lawsuit is headed for trial in April
Wynn Facing Probes From Nevada, Massachusetts
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Steve Wynn agreed to give up control over his ex-wife’s shares of Wynn Resorts Ltd., potentially ending their six-year legal battle days after he resigned from the casino company following accusations of sexual harassment.
If a judge approves, Steve Wynn’s voting power will shrink to 11.8 percent of the shares, with Elaine Wynn able to determine what to do with her 9.4 percent stake. That may leave Wynn Resorts more vulnerable to activists or potential acquirers.