Post by Logan on Jul 9, 2016 5:51:54 GMT -6
Shareholder sues Sands officials, accusing them of wasting millions of dollars
A Las Vegas Sands Corp. shareholder has filed a derivative lawsuit against Chairman and CEO Sheldon Adelson and members of the Sands board of directors, accusing them of wasting millions of dollars with ill-advised lawsuits and bad business decisions.
William Sokolowski, who says he has been a Las Vegas Sands shareholder since February 2012, filed the civil lawsuit Tuesday in Clark County District Court, seeking the appointment of a conservator or special master to take over the board’s role and for the company to reimburse losses to the company and its shareholders. Sokolowski did not disclose how many shares he has.
Sokolowski twice filed similar lawsuits against Sands in federal courts.
“The company will vigorously defend this suit, which is largely a rehash of two earlier cases brought by the same plaintiff and his lawyer in federal court,” Ron Reese, a Sands spokesman, said in an emailed response. “Both cases were dismissed and never appealed by him.”
Read more: www.reviewjournal.com/news/crime-courts/shareholder-sues-sands-officials-accusing-them-wasting-millions-dollars
A Las Vegas Sands Corp. shareholder has filed a derivative lawsuit against Chairman and CEO Sheldon Adelson and members of the Sands board of directors, accusing them of wasting millions of dollars with ill-advised lawsuits and bad business decisions.
William Sokolowski, who says he has been a Las Vegas Sands shareholder since February 2012, filed the civil lawsuit Tuesday in Clark County District Court, seeking the appointment of a conservator or special master to take over the board’s role and for the company to reimburse losses to the company and its shareholders. Sokolowski did not disclose how many shares he has.
Sokolowski twice filed similar lawsuits against Sands in federal courts.
“The company will vigorously defend this suit, which is largely a rehash of two earlier cases brought by the same plaintiff and his lawyer in federal court,” Ron Reese, a Sands spokesman, said in an emailed response. “Both cases were dismissed and never appealed by him.”
Read more: www.reviewjournal.com/news/crime-courts/shareholder-sues-sands-officials-accusing-them-wasting-millions-dollars