Republican National Committee finance chairman Steve Wynn has stepped down amid allegations of sexual misconduct on Saturday.
Following the release of the report in the WSJ, the Wynn Resorts Ltd board of directors said it met and formed a committee that consisted of only independent directors that would investigate the allegations in the article published Friday.
"We find ourselves in a world where people can make allegations, regardless of the truth", Wynn said, "and a person is left with the choice of weathering insulting publicity or engaging in multiyear lawsuits". Wynn is building a roughly $2.5 billion resort in the Boston suburb of Everett.
The WSJ said current and former company employees interviewed by the Journal accused Wynn of creating a working environment hostile for women and of pressuring employees regularly to take part in sex acts.
Another former worker said Wynn rubbed his genitals and commented about what he would like to do with her sexually, and once grabbed her waist and told her to kiss him. "It is deplorable for anyone to find themselves in this situation", he wrote in a written statement.
The heat was turned up on Republicans to return donations from the Las Vegas mogul, as the nation continues to face a reckoning over sexual harassment and the RNC backed controversial Alabama Senate candidate Roy Moore in the state's special election. Stifel Nicolaus boosted their target price on shares of Wynn Resorts from $134.00 to $153.00 and gave the company a "hold" rating in a research note on Friday, October 27th. According to the paper, a Wynn corporate attorney said in a court hearing that there were "allegations of assault".
Independiente mereció más, pero empató con Central
El Canalla, por su parte vuelve a la actividad luego de un semestre irregular y sin su gran incorporación: Néstor Ortigoza . El encuentro, que terminó igualado 1 a 1, tuvo un cierre dramático en el que ambos desperdiciaron chances de ganar.
The company said it is "committed to operating with the highest ethical standards and maintaining a safe and respectful culture".
One reason investors believe Wynn's trouble could hurt the company is that he is the face of the company. Wynn has denied all of the allegations, calling the "idea" that he ever assaulted any woman "preposterous", insisting that the surfacing of such accusations was the work of his ex-wife amid a divorce settlement.
The Journal story quoted Elaine Wynn's attorney as saying the claim that she instigated the Journal's article "is just not true".
Gabelli also issued estimates for Wynn Resorts' FY2018 earnings at $7.10 EPS, FY2019 earnings at $7.70 EPS, FY2020 earnings at $8.30 EPS, FY2021 earnings at $9.25 EPS and FY2022 earnings at $10.20 EPS.
It was the first time that the U.S. sexual harassment watershed has centered on the CEO and founder of a major publicly held company - whose shares tumbled 7.8 percent following the report's publication.