But left open another avenue for Okada to pursue his case
Nevada court dismisses Okada suit against Wynn
(US).- A court in Nevada has dismissed a counter-complaint by Japanese gaming magnate Kazuo Okada in his legal battle with casino developer Wynn Resorts Ltd’s chairman, Steve Wynn, the Las Vegas Review-Journal reports.
2013-10-31
Reading time 29 seg
(US).- A court in Nevada has dismissed a counter-complaint by Japanese gaming magnate Kazuo Okada in his legal battle with casino developer Wynn Resorts Ltd’s chairman, Steve Wynn, the Las Vegas Review-Journal reports.
Okada had his stake of nearly 20 percent in Wynn Resorts cancelled in February last year at a discount to its market value at the time, after Wynn Resorts said Mr Okada was an “unsuitable” shareholder.
Okada subsequently contended that Wynn had engaged in “civil extortion” to force him to sell his stake at a discount.
The Nevada court has now dismissed that contention, but left open another avenue for Okada to pursue his case, which his lawyer said he would take. Wynn Resorts is the parent company of Wynn Macau.
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