Okada nominates two candidates for Wynn Resorts board
The Okada nominees, identified in a Securities and Exchange Commission filing late Wednesday, are Jonathan Macey, a Yale Law School professor who specializes in corporate and securities law; and accountant Fredric Reynolds.
Okada's filing said each nominee will be paid us$ 50,000 one time for agreeing to be nominated. Wynn Resorts will hold its annual shareholder meeting November 2 in Las Vegas.
Aruze USA is a subsidiary of Universal Entertainment. It's unclear whether Okada still maintains the right to nominate board members. Okada's shares, valued at us$ 2.9 billion, were redeemed in February after an internal investigation alleged he gave more than us$ 100,000 in payments and gifts to regulators in the Philippines and their families.
The Japanese billionaire filed a lawsuit in January against Wynn Resorts for blocking access to financial documents related to a us$ 135 million donation by the company to the University of Macau Development Foundation.
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