NEW YORK (TheStreet) -- Casino hotel company Wynn Resorts (WYNN) filed with the Securities and Exchange Commission that it's holding a special shareholder meeting to discuss the potential removal of one of its directors, Kazuo Okada.
The board said on Feb. 18 that Okada was considered an "unsuitable person" according to the company's articles of incorporation. Okada has been accused of making inappropriate payments to regulators in the Philippines.
Wynn subsidiary Wynn Macau Limited voted on Feb. 24 to remove Okada from its board.
Shares of Wynn Resorts rose 2.47% to $122.33 in early trading Wednesday.TheStreet Ratings gives Wynn Resorts an A- grade with a buy rating and $145.45 price target. -- Written by Alexandra Zendrian
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