You might call it a self-contradictory statement.
Today’s Las Vegas newspaper reports on what knowledge the new Wynn Resorts CEO Matt Maddox had about allegations of sexual misconduct by former CEO Steve Wynn:
He (Maddox) said he was unaware of the misconduct allegations against Wynn until they were aired in numerous publications last month and that he first learned of a $7.5 million settlement payment to a Wynn employee when it surfaced in a court document in 2016.
And what did he think the $7.5 million settlement was for?
A lawsuit by a shareholder accuses the Wynn Resorts board of directors covering up Wynn’s alleged misdeeds after it learned by 2015 of a lawsuit filed by Wynn’s ex-wife Elaine Wynn. That lawsuit mentioned a “multimillion dollar payment” paid by Wynn personally due to “serious misconduct” on company property against a company employee.
A manicurist had accused Wynn of forcing her to have sex with him. It was recently brought out that suit was a described as a paternity case.
“The Board, however, eventually learned of the allegations of egregious misconduct involving the Company. Ms. Wynn’s lawsuit also accuses Mr. Wynn of using the Company “to fund his lavish lifestyle and personal politics” and displaying “reckless risk-taking behavior” that places the Company in jeopardy and has exposed it to legal challenges,” the recent shareholder suit states. “Thus, regardless of whether Mr. Wynn initially concealed the settlement and allegations of egregious misconduct involving the Company, the Board knew of the settlement and allegations of patently egregious misconduct involving the Company by at least 2015 and failed to act and continued to support and recommend to the stockholders Mr. Wynn’s continued leadership and compensation. The Board knowingly failed to investigate the allegations of patently egregious misconduct by the Chairman and CEO and Mr. Wynn’s suitability for his fiduciary positions and regulatory compliance and his suitability as a gaming operator. Knowing failure to act by the Board on the allegations of such egregious misconduct involving the Company constituted a knowing and intentional violation of its fiduciary duties to the Company for which the Director Defendants are liable.”
If you think Wynn settles such matters easily, check out the bit at the end of a CNN story about his legendary tantrums.
In 2006 a member of a cleaning crew at Wynn Resorts sued Wynn, saying he assaulted her by grabbing her and pulling her and yelling at her over the job a cleaning crew was doing. She filed a police report but nothing came of it, CNN reported.
In the end the woman wound up paying Wynn’s attorney fees and other costs totaling nearly $16,000. She had to file bankruptcy.