Las Vegas Sands Corp.
Lead Plaintiff Deadline: 12/21/2020
SUMMARY OF CASE:
A securities class action has been filed against Las Vegas Sands Corp. (LVS) on behalf of all persons and entities that purchased or otherwise acquired Las Vegas Sands securities between February 27, 2016 through September 15, 2020. This case has been filed in the USDC – Nevada.
The Complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors:?(1) that weaknesses existed in Marina Bay Sands’ casino control measures pertaining to fund transfers; (2) that 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) that the foregoing foreseeably increased the risk of litigation against the Company, as well as investigation and increased oversight by regulatory authorities; (4) that Las Vegas Sands had inadequate disclosure controls and procedures; (5) that, consequently, all the foregoing issues were untimely disclosed; and (6) that, as a result, the Company’s public statements were materially false and misleading at all relevant times.