TOKYO, April 30, 2014 (GLOBE NEWSWIRE) -- Universal Entertainment Corporation and its chairman Kazuo Okada have filed a criminal complaint and charges dated April 24, 2014, with the Tokyo District Public Prosecutors Office against Wynn Resorts Limited (Nasdaq:WYNN) (referred to below as "Wynn Resorts") and Wynn Resorts CEO Stephen A. Wynn based on the alleged facts of crime of defamation, harm to public trust, and circulation of rumors. The complaint and charges were accepted and are as follows.
1. Summary of complaint and charges
|Subject of complaint and charges||Alleged facts regarding complaint||Alleged facts regarding charges|
|Wynn Resorts||N.A.||Circulation of rumors (Financial Instruments and Exchange Act article 158, article 197 section 1 item 5)|
|Stephen A. Wynn||Defamation (Penal Code article 230 section 1)||Circulation of rumors (Financial Instruments and Exchange Act article 158, article 197 section 1 item 5)|
|Harm to public trust (article 233)|
2. Background information on complaint and charges
As notified in "Regarding the Press Release from Wynn Resorts Limited (Nasdaq:WYNN)" dated February 21, 2012, and "Regarding Universal Entertainment Group's View of Wynn Resorts Limited (Nasdaq:WYNN)" dated February 22, 2012, in response to Wynn Resorts' determination that Universal Entertainment and its subsidiary (Aruze USA Inc.) are unfit to be shareholders of Wynn Resorts, and to Wynn Resorts' decision to redeem forcibly Wynn Resorts shares held by Universal Entertainment's subsidiary (Aruze USA Inc.) at a large discount, Universal Entertainment has carefully researched and deliberated taking legal measures to determinedly counter these actions. On April 24, 2014, a criminal complaint and charges were filed with the Tokyo District Public Prosecutors Office against Wynn Resorts and Wynn Resorts CEO Stephen A. Wynn regarding the alleged facts of crime listed in Item 1 above, and the complaint and charges were accepted.
As notified in "Regarding the Lawsuit Filed against Wynn Resorts Limited (Nasdaq:WYNN)" dated March 13, 2012, and in "Notice regarding Lawsuit Filing" dated August 28, 2012, Universal Entertainment and its subsidiaries filed civil lawsuits seeking compensatory damages against Wynn Resorts and Stephen A. Wynn in Nevada on March 12, 2012 (local time), and in Japan on August 28, 2012. Both of these lawsuits are currently pending.
3. Affect on Universal Entertainment's Earnings
There is no affect of this complaint on Universal Entertainment's earnings. However any details that should be disclosed moving forward will be done so promptly.
CONTACT: MEDIA CONTACTS: Universal Entertainment Corporation (JASDAQ Code: 6425) Contact: Akiko Ogasawara, PR&IR Office Email address: email@example.com Address: Ariake Frontier Bldg, A, 3-7-26 Ariake, koto-ku, Tokyo, 135-0063 JAPAN TEL: +81-3-5530-3055 (switchboard)Source:Universal Entertainment Corporation