Wynn Resorts, Investors Get Final Nod for $70 Million Settlement

Wynn Resorts Ltd.'s $70 million settlement of a securities fraud class action related to sexual misconduct allegations against founder Steve Wynn warrants final approval, a federal court ruled.

Attorneys’ fees amounting to one-third of the settlement amount—more than $23 million—are also reasonable, Judge Cristina D. Silva said in an order docketed Monday in the US District Court for the District of Nevada.

• The investors alleged that the company and certain former executives knew or recklessly disregarded allegations of sexual misconduct against Steve Wynn and made material misrepresentations to investors
• The settlement was reached at an advanced stage of litigation and ...