Okada Sues To Block Vote On Wynn Resorts Board Ouster

Law360, New York (January 25, 2013, 7:13 PM EST) -- Billionaire Kazuo Okada opened a new front in his ever-escalating battle with casino mogul Steve Wynn on Thursday, filing a lawsuit in Nevada federal court claiming Wynn trumped up foreign bribery allegations to try to oust him from the Wynn Resorts Ltd. board of directors.

Okada claims Wynn misled investors in a Jan. 3 proxy statement that accused him of bribing gaming regulators in the Philippines to further his own development of a casino there, in violation of the Foreign Corrupt Practices Act. The statement announced...
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