After years of legal battles and controversy, Wynn Resorts has reached a milestone settlement in a class-action lawsuit, agreeing to pay a staggering $70 million to resolve claims of sexual misconduct and harassment by former CEO Steve Wynn. The settlement, which was announced by the Las Vegas Review-Journal, marks a significant victory for the dozens of women who came forward with allegations against the disgraced casino mogul.
The class-action lawsuit, which was filed in 2018, alleged that Steve Wynn had engaged in a pattern of sexual misconduct and harassment over several decades, creating a hostile work environment for female employees at Wynn Resorts. The allegations ultimately led to Wynn’s resignation from the company in 2018 and a dramatic decline in the company’s stock value.
Under the terms of the settlement, Wynn Resorts will pay $41 million to the plaintiffs, with an additional $29 million going towards legal fees and costs. In addition, the company has agreed to implement a series of reforms aimed at preventing and addressing sexual harassment in the workplace, including mandatory training for employees and the creation of a new hotline for reporting complaints.
In a statement, Wynn Resorts CEO Matt Maddox expressed regret for the harm caused to the women involved in the lawsuit and pledged to make changes to ensure a safer and more respectful work environment for all employees. “We are committed to learning from this experience and becoming a better, more inclusive company,” Maddox said.
The settlement is not only a significant financial victory for the plaintiffs but also a symbolic one, as it sends a strong message that sexual misconduct will not be tolerated in the workplace. It also serves as a reminder of the power of collective action, as the women who came forward with their stories were able to hold a powerful corporation accountable for its actions.
The $70 million settlement is one of the largest of its kind in recent years and serves as a stark reminder of the financial and reputational consequences of workplace harassment. It is a victory for the women who bravely spoke out against their abuser and a step towards a more equitable and respectful workplace for all.