The estranged wife of casino mogul Steve Wynn has appealed to the Nevada Supreme Court to shield her against a possible backlash over her statements on her ex-husband’s alleged securities law violations.
Fearing her ex-husband’s retaliation, Elaine Wynn asked high tribunal to grant her petition for a whistle-blower protection after a Las Vegas trial judge junked her plea. The case, which was filed on Thursday, was recorded as Elaine Wynn v. Eighth Judicial District Court, 71432, Nevada Supreme Court.
Bloomberg reported that Elaine’s concern stemmed from the disclosures she made to Wynn Resorts Ltd.’s audit committee and outside auditor Ernst &Young on what she said were potential securities law violations by the casino operator.
Wynn’s estranged wife, however, did not go into details on what potential violations she believes occurred.
“Our company takes its obligations under all federal laws very seriously and is frustrated when those laws and valid protections are twisted and used to pursue a personal agenda,” Wynn Resorts spokesman Michael Weaver told the business news agency.
The clash between the former couple stemmed from Wynn Resorts decision to take away the 20 percent 20 percent stake of Wynn’s former business partner and casino mogul Kazuo Okada.
Elaine brought her ex-husband to court in a bid to break away from a shareholders agreement that was part of the couple’s divorce and that prevents her from selling her shares without her ex-husband’s permission.
She also accused her husband of personal vendetta when she failed to get re-elected to the company’s board as a result of criticizing his management style. She claimed she was vocal critic to her ex-hubby’s management style.
The lower court, however, ruled that Elaine is not qualified to be afforded with a whistle-blower protections due to the fact that the petitioner has failed to explain as to how the company could retaliate against her.
