Local News


Pension fund leader sues Wynn Resorts after sex allegations

Posted at 1:39 PM, Feb 26, 2018
and last updated 2018-02-26 16:39:30-05

The official in charge of New York's $209 billion public pension fund has sued Wynn Resorts in the wake of sexual misconduct allegations against former company CEO Steve Wynn.

Comptroller Thomas DiNapoli announced Monday that the lawsuit alleges certain officers and directors knew the company's founder and chairman had made unwanted sexual advances on employees and pressured them to perform sex acts.

The state's retirement fund holds shares in Wynn Resorts with an estimated value of about $30 million. Wynn Resort shareholders can take legal action when a company's executives don't meet their obligations as fiduciaries of the company.

Wynn resigned this month. He has denied the misconduct accusations and attributed them to a campaign led by his ex-wife.