Wynn Resorts stock price plummets after sexual misconduct report
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Wynn Resorts's stock price plummeted on Friday after The Wall Street Journal reported that chairman and CEO Steve Wynn is facing sexual assault accusations. 

The company's shares dropped more than 9 percent to $181.66 after the report surfaced, marking the biggest drop since July of last year, according to Bloomberg.

The Journal reports that Wynn, who serves as the Republican National Committee's (RNC) finance chair, pressured multiple employees to participate in sexual acts with him.

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Wynn reportedly reached a $7.5 million settlement with a manicurist who worked at one of his Las Vegas properties after he forced her to have sex with him. 

Wynn denied the allegations in a statement on Friday. 

“The idea that I ever assaulted any woman is preposterous. We find ourselves in a world where people can make allegations, regardless of the truth, and a person is left with the choice of weathering insulting publicity or engaging in multi-year lawsuits. It is deplorable for anyone to find themselves in this situation,” Wynn said. 

The report comes after numerous women across the country have come forward to accuse high-profile men of sexual misconduct, resulting in the "Me Too" and "Time's Up" movements. 

Media figures such as Harvey Weinstein, Kevin Spacey and Matt LauerMatthew (Matt) Todd LauerComcast shareholders reject proposals for outside sexual harassment investigation at NBC Ronan Farrow fires back at Matt Lauer 'shoddy journalism' accusation: 'Just wrong' Megyn Kelly calls independent Tara Reade interview the 'wave of the future' MORE stepped down from their positions following allegations against them, while politicians such as Sen. Al FrankenAlan (Al) Stuart FrankenPolitical world mourns loss of comedian Jerry Stiller Maher to Tara Reade on timing of sexual assault allegation: 'Why wait until Biden is our only hope?' Democrats begin to confront Biden allegations MORE (D-Minn.) and Rep. John ConyersJohn James ConyersFormer impeachment managers clash over surveillance bill VA could lead way for nation on lower drug pricing The Hill's 12:30 Report: Dems release first transcripts from impeachment probe witnesses MORE Jr. (D-Mich.) resigned from their posts. 

The RNC has sharply criticized Democrats who took donations from Weinstein, demanding that the funds be returned.