Las Vegas Sands Can't Shake Investors' Fraud Action

Law360, New York (August 25, 2011, 4:26 PM EDT) -- A federal judge in Nevada on Thursday let Las Vegas Sands Corp. shareholders move ahead with a putative class action alleging the casino operator misrepresented its prospects and liquidity, but ruled that many of the statements were protected by safe harbor provisions.

U.S. District Judge Kent Dawson questioned the ultimate viability of the fraud claims, but concluded that the plaintiffs had adequately alleged that Sands and its top executives artificially inflated company stock by trumpeting projects in Macao and elsewhere despite concerns about financing and casino...
To view the full article, register now.