Okada Loses Bid to Vote Wynn Resorts Shares at Meeting
This article is for subscribers only.
Kazuo Okada, whose 20 percent stake in Wynn Resorts Ltd. was forcibly redeemed in February, lost a bid for a court order letting him vote the 25 million shares at an annual Wynn shareholders’ meeting scheduled for Nov. 2.
Nevada state court Judge Elizabeth Gonzalez yesterday rejected Okada’s request at a hearing in Las Vegas. She said the Japanese billionaire, who made his fortune in pachinko, didn’t convince her that he was likely to overcome Wynn’s argument that the board’s business judgment validated the redemption.