Adelson Settles Six-Year Feud With Fired Sands China Chief
- Steven Jacobs claimed Sands made illegal, outrageous demands
- Confidential accord averts Las Vegas trial on 2010 lawsuit
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Sheldon Adelson ended his six-year legal fight with the former head of his Macau casinos whose allegations of “outrageous and illegal” demands by the billionaire Las Vegas Sands Corp. chairman prompted a U.S. Securities and Exchange Commission investigation.
A confidential settlement was reached between Steven Jacobs and the company, according to a June 1 statement by Sands China Ltd. to the Hong Kong Stock Exchange. The case had been scheduled for trial this year in Las Vegas after Sands lost its latest petition to the Nevada Supreme Court to have the judge removed.