Las Vegas Sands to Pay More Than $75 Million to Settle Suit Filed by Former Macau CEO
June 01 2016 - 12:08AM
Dow Jones News
By Kate O'Keeffe and Alexandra Berzon
Las Vegas Sands Corp. has agreed to pay more than $75 million to
settle a case brought by its former Macau chief executive,
according to a person familiar with the matter.
The settlement, reached Tuesday, resolves all claims brought by
the casino operator's former Macau chief executive, Steve Jacobs,
against the company, its subsidiaries and its controlling
shareholder, Republican megadonor Sheldon Adelson, according to a
company statement to the Hong Kong stock exchange.
The settlement involves between $75 million and $100 million,
according to the person familiar with the matter.
Mr. Jacobs's wrongful termination lawsuit had been set to go to
trial in Nevada in September.
Mr. Adelson sued Wall Street Journal reporter Kate O'Keeffe for
libel in 2013. A spokeswoman for the Journal, which wasn't named in
the suit, has said the newspaper would continue to vigorously
defend Ms. O'Keeffe.
Write to Alexandra Berzon at alexandra.berzon@wsj.com
(END) Dow Jones Newswires
May 31, 2016 23:53 ET (03:53 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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