Fredric Reynolds, an accounts professional and a professor at Yale Law School, i.e. Jonathan Macey, the securities regulations & company expert; have been nominated by Wynn Resorts Ltd. through its director & co-founder Kazuo Okada to attend the company’s annual meeting for the shareholders. Both of them would receive the one-time-payment of $50,000 for giving their consent. The meeting would be organized in Las Vegas on 2nd November.
Shares worth $2.9 billion of Okada were exchanged in February after his suspected offers of gifts & payments worth $100,000 to the Philippines controllers and their families. Nothing is clear about the legal rights of Okada for nomination of the board members at this time.
A court case was initiated by the Japanese billionaire, challenging Wynn Resorts for putting hurdles for his access to the fiscal papers in connection with company’s contribution worth $135 million to the University of Macau Development Foundation.