A No-WYNN Situation for Former Nevada Governor as Exes Battle in Court
Former Nevada Governor Bob Miller is in the middle of a lengthy 3-day deposition as the wealthy Wynn exes battles it out in Court.
Elaine Wynn, herself valued at nearly $1.5 billion, is battling former hubby Steve Wynn (worth $2.7 billion) to take back control of her Wynn Resorts stocks. It was Miller who oversaw her abrupt ouster (ironically, husband Steve was in the minority in voting for Elaine to retain her controlling stocks).
According to a statement filed on behalf of Elaine Wynn, “The resumed deposition of Governor Miller seeks to examine whether the Board has fulfilled its fiduciary responsibilities to its shareholders, including by seeking much-needed clarity as to the process leading to the Board’s unprecedented decision not to renominate Ms. Wynn — the only time in Wynn Resorts’ history that a director has been denied renomination.”
In a statement, a Steve Wynn spokesman said the latest filing was a legal misdirection intended to “make headlines.”
“Governor Miller, in his position as Chairman of the Nominating Committee and member of the board, has already completed three full days of testimony and turned over all relevant documents to attorneys,” the statement reads. “Governor Miller was the longest-serving Governor of Nevada and is a deeply respected member of the community and our board. He has chaired the Corporate Governance Committee of other public companies, as well as ours.
“Elaine Wynn’s recent actions are self-serving and vindictive. By attempting to sensationalize a routine legal filing, Elaine Wynn demonstrates her desperation to damage not only the company, but as many people associated with it as possible.”
- Aaron Goldstein, Gambling911.com
