Kendall Law Group, a national securities firm, is investigating certain officers and directors of Las Vegas Sands Corp. (NYSE: LVS) for possible breaches of fiduciary duty and other federal and state laws. Las Vegas Sands is currently under investigation by the U.S. Department of Justice (“DOJ”) and the U.S. Securities and Exchange Commission (“SEC”) for possible violations of the Foreign Corrupt Practices Act (“FCPA”). Concerned Las Vegas Sands shareholders are encouraged to contact the Kendall Law Group at 877-744-3728 or by email at firstname.lastname@example.org.
In its most recent annual report, Las Vegas Sands reported that it received a subpoena from the SEC requesting that the company produce documents related to its compliance with the FCPA. The company also disclosed that the DOJ was conducting a similar investigation. Las Vegas Sands shares fell approximately 6% on news of the investigation and on March 2, the Wall Street Journal reported that “[a]nalysts said the U.S. investigations likely would have a negative effect on Sands' shares.”
The source of information that initiated the investigation may have been a breach of contract and wrongful termination suit filed in Nevada state court by Steve Jacobs, the former chief executive officer of Sands China. In his complaint, Mr. Jacobs alleged that Las Vegas Sands’ Chairman, Sheldon Adelson made demands of Jacobs that would have been illegal, including but not limited to: the use of "improper leverage" against unnamed senior Macau government officials to help the company secure rights to sell apartments at its Four Seasons property, orders to conduct "secret investigations" on the officials so that any negative information could be used against them, and demands to refrain from disclosing “truthful and material information to the Board of Directors of Sands China.”
Kendall Law Group has the credentials and experience to pursue any type of complex securities litigation in the nation. The firm, led by a former federal judge and a former U.S. Attorney, is a national securities firm that represents shareholders when publicly traded companies violate the law. Shareholders are urged to contact attorney Scott Kendall for more information.