Kazuo Okada, chairman of Universal Entertainment Corp, is one of Wynn Resorts Ltd.’s largest shareholders. Earlier this month, he filed a lawsuit for a dispute over use of funds, including Wynn Macau’s pledge to give $135 million to the local University.
Okada is demanding that Wynn open their books for anything related to the University of Macau. He wants Wynn to show how the $120 million that was invested by Aruze (an Okada company) was spent.
Last week, Wynn Resorts revealed Robert Shapiro, known as an attorney for celebrities with a high-powered team supporting him, would be defending them. Wynn Resorts CEO Steve Wynn is similarly known for forcefully litigating lawsuits when the company is sued instead of settling. Over the years he has been able to deter lawsuits, causing those with legitimate legal disputes to think again about suing.