The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Las Vegas Sands Corp. (NYSE: LVS) who purchased shares between February 27, 2016 and September 15, 2020. The action, which was filed in the United States District Court for the District of Nevada, alleges that the Company violated federal securities laws.
In particular, the Las Vegas Sands lawsuit alleges that (i) weaknesses existed in Marina Bay Sands’ casino control measures pertaining to fund transfers; (ii) 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; (iii) the foregoing foreseeably increased the risk of litigation against the Company, as well as investigation and increased oversight by regulatory authorities; (iv) Las Vegas Sands had inadequate disclosure controls and procedures; (v) consequently, all the foregoing issues were untimely disclosed; and (vi) as a result, the Company’s public statements were materially false and misleading at all relevant times.
Shareholders have until December 21, 2020 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
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