Ousted Director Fights Back In Wynn Resorts Dispute

Law360, New York (March 12, 2012, 9:16 PM EDT) -- Former Wynn Macau Ltd. director Kazuo Okada shot back at parent company Wynn Resorts LLC Monday in its lawsuit against him in Nevada federal court, saying the board's forcible redemption of his 20 percent stake at a steep discount violated a shareholder agreement.

Okada, along with his companies Aruze USA Inc. and Universal Entertainment Corp., filed a counterclaim against Wynn Resorts, claiming that the Wynn Macau board unjustifiably reclaimed his shares, worth more than $2.7 billion, in exchange for a promissory note entitling him to only...
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