Wynn case raises question: When do investors need to know?
NEW YORK — When should a company have to tell investors that a top executive is facing sexual misconduct allegations?
The question comes as Wynn Resorts is being rocked by the resignation of Steve Wynn, its chairman and CEO, following allegations that first surfaced in a newspaper report that sent the casino and resorts company’s stock tumbling.
The issue is further complicated by the web of workplace and legal practices that companies have used to keep such situations under wraps.
The billionaire casino mogul’s resignation Tuesday came less than two weeks after the Wall Street Journal reported that a number of women said Wynn harassed or assaulted them and that one case led to a $7.5 million settlement.