The Wall Street Journal: $2.6 billion settlement by Wynn Resorts may free up founder to exit stake

Steve Wynn resigned last month as the chairman and chief executive of the casino company that bears his name. On Thursday, Wynn Resorts Ltd. took a step that could eventually allow him to end his status as the company’s largest shareholder, too.

His 12% stake has left him and the company subject to additional scrutiny by regulators in Nevada and Massachusetts, who are investigating allegations that he engaged in sexual misconduct against employees. But he has been prevented from selling his Wynn Resorts stock by a complex shareholder agreement among him, his ex-wife and a former business partner that dates to 2010.

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