Shareholders allege ‘conflict of interest”
Elaine Wynn loses board seat
Elaine Wynn will not return to the board of the casino-hotel company she co-founded with ex-husband Steve Wynn based on preliminary results from a vote by shareholders.
2015-04-27
Reading time 28 seg
Elaine Wynn will not return to the board of the casino-hotel company she co-founded with ex-husband Steve Wynn based on preliminary results from a vote by shareholders.
The breakdown of votes at the annual meeting for Wynn Resorts Ltd. isn't immediately available Friday.
Shareholders met inside the Wynn Las Vegas to discuss if they agree with the company's decision not to re-elect Elaine Wynn to the board. She fought to keep her position and has said removing her from the board is a referendum on her life's work.
The board says a shareholder lawsuit she has pending against her former husband, who is also the company's CEO and chairman, represents a conflict of interest.
Three firms have analyzed arguments and each recommended different votes.
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