Short seller of Wynn Resorts Jim Chanos said not nice things about the gambling enterprise, but CEO Steve Wynn’s case against Jim Chanos was thrown out, according to Valuewalk.
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Steve Wynn said Chanos defamed the company at a private event, and said that Steve Wynn had violated the federal Foreign Corrupt Practices Act (FCPA). Jim Chanos claimed that Wynn, in its complaint, submitted a cut and paste version of the complaint and not the actual words.
Jim Chanos claimed in the public statement he never claimed that Wynn was guilty of anything, just that it was showing weakness in its assets in Macau.
A Federal Judge in San Francisco said that Chanos’ remarks were protected speech and were not intended to slander the company or accuse it of ethics violations.