{"id":386349,"date":"2020-11-22T01:32:23","date_gmt":"2020-11-22T06:32:23","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=386349"},"modified":"2020-11-22T01:32:23","modified_gmt":"2020-11-22T06:32:23","slug":"shareholder-alert-pomerantz-law-firm-reminds-shareholders-with-losses-on-their-investment-in-las-vegas-sands-corporation-of-class-action-lawsuit-and-upcoming-deadline-lvs-6","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/shareholder-alert-pomerantz-law-firm-reminds-shareholders-with-losses-on-their-investment-in-las-vegas-sands-corporation-of-class-action-lawsuit-and-upcoming-deadline-lvs-6\/","title":{"rendered":"SHAREHOLDER ALERT: Pomerantz Law Firm Reminds Shareholders with Losses on their Investment in Las Vegas Sands Corporation of Class Action Lawsuit and Upcoming Deadline \u2013 LVS"},"content":{"rendered":"
\n

NEW YORK, Nov. 22, 2020 (GLOBE NEWSWIRE) — Pomerantz LLP announces that a class action lawsuit has been filed against Las Vegas Sands Corporation (\u201cLas Vegas Sands\u201d or the \u201cCompany\u201d) (NYSE: LVS) and certain of its officers.\u00a0\u00a0 The class action, filed in United States District Court for the District of Nevada, and docketed under 20-cv-01958, is on behalf of a class consisting of all persons other than Defendants who purchased or otherwise, acquired Las Vegas Sands securities between February 27, 2016 and September 15, 2020, both dates inclusive (the \u201cClass Period\u201d), seeking to recover damages caused by Defendants\u2019 violations of the federal securities laws and to pursue remedies under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the \u201cExchange Act\u201d) and Rule 10b-5 promulgated thereunder, against the Company and certain of its top officials.<\/p>\n

If you are a shareholder who purchased Las Vegas Sands securities during the class period, you have until December 21, 2020, to ask the Court to appoint you as Lead Plaintiff for the class.\u00a0 A copy of the Complaint can be obtained at www.pomerantzlaw.com<\/u><\/a>. \u00a0 To discuss this action, contact Robert S. Willoughby at newaction@pomlaw.com<\/u><\/a> or 888.476.6529 (or 888.4-POMLAW), toll-free, Ext. 7980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased.\u00a0<\/p>\n

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\n [Click here for information about joining the class action]<\/u>
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Las Vegas Sands was founded in 1988 and is based in Las Vegas, Nevada. The Company, together with its subsidiaries, develops, owns, and operates integrated resorts in Asia and the U.S., which offer various amenities.<\/p>\n

Las Vegas Sands\u2019 properties include, among others, the Marina Bay Sands resort in Singapore, which operates a casino.<\/p>\n

The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company\u2019s business.\u00a0 Specifically, Defendants made false and\/or misleading statements and\/or failed to disclose that:\u00a0 (i) weaknesses existed in Marina Bay Sands\u2019 casino control measures pertaining to fund transfers; (ii) the Marina Bay Sands\u2019 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\u2019s 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\u2019s public statements were materially false and misleading at all relevant times.<\/p>\n

On July 19, 2020, Bloomberg News<\/em> reported that Las Vegas Sands had settled a lawsuit brought by a former patron, Wang Xi (\u201cXi\u201d), meeting his demand for a S$9.1 million ($6.5 million) payment. Xi reportedly sued the Marina Bay Sands casino in 2019 to recover S$9.1 million of his funds that the casino allegedly transferred to other patrons from his casino deposit accounts in 2015 without his approval, which triggered a probe into the casino by local authorities. Bloomberg News <\/em>also reported that the U.S. Department of Justice (\u201cDOJ\u201d) \u201cis also scrutinizing whether anti-money laundering procedures had been breached in the way the Singapore casino handles high rollers.\u201d<\/p>\n

On this news, Las Vegas Sands\u2019 stock price fell $1.41 per share, or 2.9%, to close at $47.28 per share on July 20, 2020.<\/p>\n

Then, on September 16, 2020, Bloomberg<\/em> reported that Marina Bay Sands \u201chas hired a law firm to conduct a new investigation into employee transfers of more than $1 billion in gamblers\u2019 money to third parties[.]\u201d \u00a0The article quoted the Singapore Casino Regulatory Authority (\u201cCRA\u201d) as stating that \u201cthere were weaknesses in [Marina Bay Sands\u2019] casino control measures pertaining to fund transfers[.]\u201d<\/p>\n

On this news, Las Vegas Sands\u2019 stock price fell $2.18 per share, or 4.2%, to close at $49.67 per share on September 16, 2020.<\/p>\n

The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com<\/u><\/a>.<\/p>\n

CONTACT:
Robert S. Willoughby
Pomerantz LLP
rswilloughby@pomlaw.com<\/u><\/a><\/p>\n

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NEW YORK, Nov. 22, 2020 (GLOBE NEWSWIRE) — Pomerantz LLP announces that a class action lawsuit has been filed against Las Vegas Sands Corporation (\u201cLas Vegas Sands\u201d or the \u201cCompany\u201d) (NYSE: LVS) and certain of its officers.\u00a0\u00a0 The class action, filed in United States District Court for the District of Nevada, and docketed under 20-cv-01958, is on behalf of a class consisting of all persons other than Defendants who purchased or otherwise, acquired Las Vegas Sands securities between February 27, 2016 and September 15, 2020, both dates inclusive (the \u201cClass Period\u201d), seeking to recover damages caused by Defendants\u2019 violations of the federal securities laws and to pursue remedies under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 … <\/p>\n

Continue reading “SHAREHOLDER ALERT: Pomerantz Law Firm Reminds Shareholders with Losses on their Investment in Las Vegas Sands Corporation of Class Action Lawsuit and Upcoming Deadline \u2013 LVS”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-386349","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nSHAREHOLDER ALERT: Pomerantz Law Firm Reminds Shareholders with Losses on their Investment in Las Vegas Sands Corporation of Class Action Lawsuit and Upcoming Deadline \u2013 LVS - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/shareholder-alert-pomerantz-law-firm-reminds-shareholders-with-losses-on-their-investment-in-las-vegas-sands-corporation-of-class-action-lawsuit-and-upcoming-deadline-lvs-6\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SHAREHOLDER ALERT: Pomerantz Law Firm Reminds Shareholders with Losses on their Investment in Las Vegas Sands Corporation of Class Action Lawsuit and Upcoming Deadline \u2013 LVS - 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