Las Vegas Sands' Stock Woes Caused By Fraud: Suit

Law360, New York (May 25, 2010, 2:45 PM EDT) -- Las Vegas Sands Corp. and two top executives have been dealt a proposed class action alleging they artificially inflated the casino resort company's stock price by making false and misleading statements about its business, prospects and operations.

Shareholder Frank J. Fosbre Jr. lodged the suit Monday in the U.S. District Court for the District of Nevada on behalf of the hundreds of people who purchased Las Vegas Sands stock between Aug. 1, 2007, and Nov. 6, 2008.

Named as defendants are the company — which owns...
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