Universal Entertainment and its subsidiary Aruze USA brought a lawsuit against Wynn Resorts, alleging that Aruze’s shares of Wynn Resorts common stock were redeemed at a discount that was too large and inconsistent with the shares’ fair value.
Compass Lexecon Senior Consultant Professor Kenneth Lehn was retained by counsel for Wynn Resorts to respond to Aruze’s expert’s opinion regarding the appropriate restricted stock discount associated with the trading restrictions on Aruze’s shares and the size of Aruze’s stock holdings in Wynn Resorts. Professor Lehn explained that the opposing expert’s assumptions and analyses were speculative and flawed. Wynn Resorts settled the case for a fraction of the damages sought by Aruze.
Professor Lehn was supported by Ralph Scholten, Shawn Chen, and Keming Liang and others in Compass Lexecon’s Washington, DC and Pasadena offices. The Compass Lexecon team worked closely with Todd Bice of Pisanelli Bice, PLLC and Mitchell Langberg of Brownstein Hyatt Farber Schreck, LLP.