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Wynn shareholder lawsuits reinstated - report

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Four federal shareholder lawsuits against the Wynn Resorts Ltd. board members were reinstated on Wednesday after they were apparently dismissed in error on Tuesday, reported The Las Vegas Sun.
U.S. District Judge James Mahan filed an order reopening the cases, which have been combined into one suit. Mahan’s initial order closing the cases on Tuesday suggested the plaintiff shareholders had missed a deadline to respond to a dismissal motion filed by attorneys for the Wynn board members.
Court records, according to The Sun, show the plaintiffs have until Oct. 15 to respond to the dismissal motion.
The federal suits, as well as two pending in state court, claim, among other things, that the Wynn board exposed the company to liability when it approved a USD135 million (MOP1.1 billion) donation to the University of Macau.
Attorneys for the directors have denied wrongdoing related to the donation and have said it wasn’t aimed at buying influence with Chinese officials.

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