Wynn seeks shareholder meeting to vote on Okada removal

LOS ANGELES Fri Dec 14, 2012 4:26am IST

Wynn Resorts CEO Steve Wynn (L) and Universal Entertainment Corporation CEO Kazuo Okada are shown in this combination photo dated December 13, 2012. REUTERS/Staff/Files

Wynn Resorts CEO Steve Wynn (L) and Universal Entertainment Corporation CEO Kazuo Okada are shown in this combination photo dated December 13, 2012.

Credit: Reuters/Staff/Files

Related Topics

Stocks

   

LOS ANGELES (Reuters) - Wynn Resorts Ltd (WYNN.O) Chairman and Chief Executive Officer Steve Wynn said his company will call a special shareholder meeting to vote on removing dissident former shareholder, and Japanese billionaire, Kazuo Okada from the casino company's board of directors.

Wynn Resorts will file a proxy statement with the U.S. Securities and Exchange Commission for the proposed vote, the company said on Thursday.

The planned vote is the culmination of a nearly year-long battle between Wynn and Okada, who heads Universal Entertainment Corp 6425.OS, and is Japan's largest pachinko manufacturer. Okada was also Wynn's partner and largest investor until their dispute erupted in early 2012.

Wynn told Reuters the company decided to take this new action because the dispute was threatening growth and investment.

(Editing by Ron Grover, Mary Milliken and Carol Bishopric)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

REUTERS SHOWCASE

Moody's on Inflation

Moody's on Inflation

Persistent inflation hurting India's sovereign ratings - Moody's  Full Article 

Carmichael Project

Carmichael Project

Adani buys Australia coal mine royalty rights from Linc for $145 million  Full Article 

GDP Preview

GDP Preview

Economy likely grew faster in June quarter: Reuters poll.  Full Article 

India-Japan Meet

India-Japan Meet

Modi eyes breakthrough nuclear pact on Japan trip   Full Article 

Monetary Policy

Monetary Policy

BofA says RBI may cut rates by 75-100 bps starting early 2015  Full Article 

Road to IPO

Road to IPO

Mega-IPO to rekindle the 'bromance' behind Alibaba's rise  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage