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HOME > > Lawsuit filed against Las Vegas Sands Corp

Lawsuit filed against Las Vegas Sands Corp

26 October 2020

(PRESS RELEASE) -- Rosen Law Firm, a global investor rights law firm, announces the filing of a class action lawsuit on behalf of purchasers of the securities of Las Vegas Sands Corp. between 27 February 2016 and 15 September 2020, inclusive. The lawsuit seeks to recover damages for Las Vegas Sands investors under the federal securities laws.

According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) Marina Bay Sands, a Las Vegas Sands resort in Singapore, casino control measures pertaining to fund transfers had weaknesses; (2) the Marina Bay Sands' casino was consequently prone to illicit fund transfers that implicated, among other issues, the transfer of customer funds to unauthorized persons and potential breaches in the Company's anti-money laundering procedures; (3) the foregoing foreseeably increased the risk of litigation against the Company, as well as investigation and increased oversight by regulatory authorities; (4) Las Vegas Sands had inadequate disclosure controls and procedures; (5) consequently, all the foregoing issues were untimely disclosed; and (6) as a result, the Company's public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than December 21, 2020. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

 
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