Casino Lawsuit Disputes

[vegasrocks]

I don't know if you've heard about this or not but the Las Vegas Sands Corp. is being sued by shareholders in three seperate lawsuits. They shareholders have filed what they call "derivative" lawsuits which seek to have the company itself sue its own Board of Directors saying that the directors mismanaged the company. They say that Chairman and Chief Executive Sheldon Adelson put his own interests ahead of the company's. The shareholders say that the Directors are the reason the company's shares fell from $125 to $1.38.

The Las Vegas Sands Corp. is trying to have the lawsuits dismissed in the upcoming June hearing. They say that the shareholders involved in the suits failed to make the required demands on the Board of Directors before they filed the lawsuits.

I don't know what to expect here, guess we will see in June when the hearing (all three suits combined) is to take place.

[Eyeofngt]

Most law suits are uncalled for in my opinion! Most are over some kind of bull or another. There are times when one is called for. I think they should be a law that stops some of the ones that are crap.

[VegasLuvsMe]

Most all of the Las Vegas resorts are going through a slump this year.

So why the law suits, because the Sands may have gotten hit the hardest?

That sounds a little fishy to me. Guess we will have to wait and see what the verdict is before we jump to conclusions though.