Oregon sues Steve Wynn over sexual misconduct at his company

Oregon sues Steve Wynn over sexual misconduct at his company
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Oregon is suing casino mogul Steve Wynn and the board of Wynn Resorts for what state officials allege was their failure to crack down on sexual misconduct and act in the best interest of shareholders.

The lawsuit accuses Wynn and the board of Wynn Resorts of doing long-term damage to the company that ultimately drove down shareholder value. The lawsuit, filed in Nevada on Wednesday, was reported by The Associated Press

Oregon Attorney General Ellen Rosenblum and state Treasurer Tobias Read said that Oregon's pension system owned about $1.3 million worth of stock in Wynn Resorts, according to AP.


Wynn came under fire in January after allegations of sexual misconduct surfaced in a Wall Street Journal report.

He stepped down as the Republican National Committee finance chairman a day after those allegations emerged, and resigned as the CEO of Wynn Resorts in February. 

Wynn has denied the allegations, which span decades and involve employees at his resorts. He has blamed his ex-wife for pushing the allegations. 

Wynn and Wynn Resorts's board of directors have faced mounting lawsuits in recent weeks from shareholders who allege that Wynn and the board damaged the company by failing to take action against sexual misconduct.

Thomas DiNapoli, the New York state comptroller and trustee of the state’s pension plan, is also suing Wynn and the board, according to AP.