12
,!
;
,
I
3
NATUREOFTHEACTION1.Thisactionarisesbecause
Wynn
ResortshasrefusedMr.OkadaaccesstothebooksandrecordsoftheCompany.AsaDirectorofWynnResorts(indeed,onewhoindirectly
'\
4
owns
19.66
percentofthe
Company),Mr.Okadahasan
irrefutable
right
toreviewthe
booksand
5recordsoftheCompany.Yet,despiteseveralwrittendemands,WynnResortsinsistsonkeeping6itsbooksandrecordshiddenfromitsDirector'sscrutiny.ThisactionseeksanorderthatMr.7OkadaandhisattorneysbepermittedtoinspecttheCompany'sbooksandrecords.8
2.
InOctober2000,Mr.OkadacausedAruzeUSA,Inc,("AruzeUSA"),aNevada9companyheindirectlycontrols,toinvest$260millioninthepredecessororganizationto
Wynn
10ResortsinLasVegas,Nevada.113.
In
April
2002,AruzeUSA
invested
afurther$120
million
in
thepredecessor12organizationtoWynnResortsattherequestofStephenA.Wynn,theCompany's
Chairman
and
13
ChiefExecutiveOfficer
("Mr.Wynn"),including$30
millionbecause
Mr.Wynn
said
thatthe
14CompanyneededhelptoadvancetheCompany'sdevelopmentofacasinoprojectintheMacau15SpecialAdministrativeRegionofthePeople'sRepublicofChina.1617
:
4.
AsaDirectoroftheCompany,Mr.OkadahastherightandobligationtobeinformedconcerningtheCompany'sbusinesssothathemayensurethatitisbeingmanaged18properlyforthebenefitofallofitsshareholders.Recentevents,includingtheCompany'sJuly192011pledgeofHK$1billiontotheUniversityofMacauDevelopmentFoundation(towhich
Mr.
20Okadafonna1lyobjected),haveled
Mr.
OkadatoseektoexercisehisrightasaDirectorto21reviewthebooksandrecordsofthe
Company.
Inparticular,onNovember2,
Mr.
Okadasought22informationregarding:(a)theCompany'sHK$lbillion($135million)donationtothe23UniversityofMacau,(b)theuseofthe$30millionAruzeUSAinvested
in
WynnResorts
in24April2002,
and
(c)the2010AmendmenttotheStockholdersAgreementamong
Mr,
Okada,
Mr.
.
-
.
25
26
27
28
Wynn,andElaineWynn(Mr.Wynn'sex-wife).5.Mr.Okada's
request
wasdenied.Not
only
wastherequestsummarilydeniedbut,shockingly,WynnResortsaskedforevidencethatthe$30millioninvestmenthadevenoccurred.AruzeUSAimmediatelyprovidedsuchevidence,andtheCompanythenacknowledgedreceipt
.PETITIONFORWRITOFMANDArvnJS,
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