Marina Bay Sands Casino Owner
Marina Bay Sands attracts up to 150 high rollers every week, all of them holding an account containing at least S$100,000 with the casino. The bets at the VIP Baccarat table begin at S$500 with a maximum of S$750,000. See 29,128 traveler reviews, 35,891 candid photos, and great deals for Marina Bay Sands, ranked #55 of 360 hotels in Singapore and rated 4.5 of 5 at Tripadvisor. Casino Marina Bay Sands has agreed to settle a lawsuit brought by a former patron, meeting his demand for a S$9.1 million (US$6.5 million) payment, according to a.
NEW YORK, Dec. 09, 2020 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, reminds investors that class actions have been commenced on behalf of stockholders of Las Vegas Sands Corporation (NYSE: LVS), Innate Pharma S.A. (NASDAQ: IPHA), JPMorgan Chase & Co. (NYSE: JPM), and First American Financial Corporation (NYSE: FAF). Stockholders have until the deadlines below to petition the court to serve as lead plaintiff. Additional information about each case can be found at the link provided.
Las Vegas Sands Corporation (NYSE: LVS)
- The Venetian Las Vegas is a luxury hotel and casino resort located on the Las Vegas Strip in Paradise, Nevada, United States, on the site of the old Sands Hotel. Designed by KlingStubbins, the hotel tower contains 36 stories and rises 475 feet (145 m). The Venetian is owned and operated by Las Vegas Sands. The Venetian also serves as the seat.
- The article quoted the Singapore Casino Regulatory Authority ('CRA') as stating that 'there were weaknesses in Marina Bay Sands' casino control measures pertaining to fund transfers.' On this news, Las Vegas Sands' stock price fell $2.18 per share, or 4.2%, to close at $49.67 per share on September 16, 2020.
Class Period: February 27, 2016 to September 15, 2020
Lead Plaintiff Deadline: December 21, 2020
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.
Las Vegas Sands’ properties include, among others, the Marina Bay Sands resort in Singapore, which operates a casino.
On July 19, 2020, Bloomberg News reported that Las Vegas Sands had settled a lawsuit brought by a former patron, Wang Xi (“Xi”), 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 also reported that the U.S. Department of Justice (“DOJ”) “is also scrutinizing whether anti-money laundering procedures had been breached in the way the Singapore casino handles high rollers.”
On this news, Las Vegas Sands’ stock price fell $1.41 per share, or 2.9%, to close at $47.28 per share on July 20, 2020.
Then, on September 16, 2020, Bloomberg reported that Marina Bay Sands “has hired a law firm to conduct a new investigation into employee transfers of more than $1 billion in gamblers’ money to third parties[.]” The article quoted the Singapore Casino Regulatory Authority (“CRA”) as stating that “there were weaknesses in [Marina Bay Sands’] casino control measures pertaining to fund transfers[.]”
On this news, Las Vegas Sands’ stock price fell $2.18 per share, or 4.2%, to close at $49.67 per share on September 16, 2020.
The complaint, filed on October 22, 2020, alleges that throughout the Class Period defendants made materially false and misleading statements regarding the Company’s business, operational, and compliance policies. Specifically, defendants made false and/or misleading statements and/or failed to disclose that: (i) weaknesses existed in Marina Bay Sands’ casino control measures pertaining to fund transfers; (ii) the Marina Bay Sands’ 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’s 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’s public statements were materially false and misleading at all relevant times.
For more information on the Las Vegas Sands class action go to: https://bespc.com/cases/LVS
Innate Pharma S.A. (NASDAQ: IPHA)
Class Period: March 10, 2020 to September 8, 2020
Lead Plaintiff Deadline: December 22, 2020
On September 8, 2020, the Company submitted to the SEC a Form 6-K containing a press release summarizing the results of the first half of 2020, ended June 30, 2020 (the “1H2020 Results”). In the 1H2020 Results, defendants abruptly announced a change in the long-touted payment scheme with AstraZeneca.
On this news, Innate’s American Depositary Share (“ADS”) prices dropped $1.62, or over 26.6%, from closing at $6.07 on September 4, 2020, the previous trading day, to open at $4.82 on September 8, 2020, and declined throughout the trading day to close at $4.45.
Marina Bay Sands Casino Owner Rentals
The complaint, filed on October 23, 2020, alleges that throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (1) Innate touted the results of their various Phase 2 trials as being within expectations; (2) Innate continued to reassure investors that they were eligible for the $100 million payment upon first dosing of Phase 3 trials; (3) Innate failed to timely disclose their renegotiations with AstraZeneca to split the $100 million payment into two $50 million payments, to be partially contingent on performance during the Phase 3 trials; and (4) as a result, defendants’ statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.
For more information on the Innate Pharma class action go to: https://bespc.com/cases/IPHA
Marina Bay Sands Casino Owners
JPMorgan Chase & Co. (NYSE: JPM)
Class Period: February 23, 2016 to September 23, 2020
Lead Plaintiff Deadline: December 23, 2020
On November 6, 2018, the Department of Justice announced in a press release that former JPMorgan precious metals trader John Edmonds pled guilty to commodities fraud and a spoofing conspiracy.
On August 20, 2019, the Department of Justice announced that another JPMorgan employee, Christian Trunz, pled guilty to spoofing charges, and had done so with the knowledge and consent of his supervisors.
On September 23, 2020, Bloomberg reported that the Company was nearing a settlement to resolve the spoofing charges.
On this news, shares of JPMorgan stock fell $2.04 per share, or 2%, to close at $92.74 per share on September 23, 2020.
On September 29, 2020, the Commodity Futures Trading Commission (“CFTC”) formally announced that it had ordered JPMorgan to pay $920 million to settle the spoofing and manipulation charges. According to the order, the Company failed to monitor its employees and ignored multiple red flags. The Company also provided the CFTC with misleading information.
The complaint, filed on October 24, 2020, alleges that throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (1) traders at the Company, with the knowledge and consent of their superiors, manipulated the precious metals market by “spoofing,” or placing fake orders to generate the appearance of market demand; (2) the Company had insufficient controls and compliance protocols to enable it to identify and stop the misconduct; (3) the Company’s earnings in the physical commodity market were, at least in part, ill-gotten; (4) such conduct would result in enhanced regulatory scrutiny; (5) the Company provided misleading information to CFTC investigators at early stages of the investigation into the misconduct; (6) resolution of the governmental investigation into the Company would result in a record-breaking $920 million fine; and (7) as a result, defendants’ statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.
For more information on the JPMorgan securities class action case go to: https://bespc.com/cases/JPM
First American Financial Corporation (NYSE: FAF)
Class Period: February 17, 2017 to October 22, 2020
Lead Plaintiff Deadline: December 24, 2020
On May 24, 2019, KrebsOnSecurity.com (“KrebsOnSecurity”), a noted cybersecurity blog, reported a massive data exposure by First American in which approximately 885 million customer files were exposed by First American.
On this news, shares of First American fell $3.46, or over 6%, to close at $51.80 per share on May 25, 2019.
On October 22, 2020, First American filed a quarterly report on Form 10-Q with the SEC, announcing that the Company had received a Wells Notice regarding its massive security breach.
On this news the price of First American shares fell approximately $4.83 per share, or 9%, to close at $46.75 per share on October 22, 2020.
The complaint, filed on October 25, 2020, alleges that throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (1) the Company failed to implement basic security standards to protect its customers’ sensitive personal information and data; (2) the Company faced a heightened risk of cybersecurity failure due to its automation and efficiency initiatives; and (3) as a result, defendants’ public statements were materially false and misleading at all relevant times.
For more information on the First American Financial class action go to: https://bespc.com/cases/FAF
About BragarEagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York and California. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact Information:
Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.
Melissa Fortunato, Esq.
Marion Passmore, Esq.
(212) 355-4648
investigations@bespc.com
www.bespc.com
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NEW YORK, Nov. 08, 2020 (GLOBE NEWSWIRE) -- Pomerantz LLP announces that a class action lawsuit has been filed against Las Vegas Sands Corporation ('Las Vegas Sands' or the 'Company') (NYSE:LVS) and certain of its officers. 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 'Class Period'), seeking to recover damages caused by Defendants' 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 'Exchange Act') and Rule 10b-5 promulgated thereunder, against the Company and certain of its top officials.
Marina Bay Sands Casino Owner Properties
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. A copy of the Complaint can be obtained at www.pomerantzlaw.com. To discuss this action, contact Robert S. Willoughby at newaction@pomlaw.com 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.
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.
Marina Bay Sands Casino Owner Waterfront
Las Vegas Sands' properties include, among others, the Marina Bay Sands resort in Singapore, which operates a casino.
The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company's business. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) weaknesses existed in Marina Bay Sands' casino control measures pertaining to fund transfers; (ii) the Marina Bay Sands' 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's 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's public statements were materially false and misleading at all relevant times.
On July 19, 2020, Bloomberg News reported that Las Vegas Sands had settled a lawsuit brought by a former patron, Wang Xi ('Xi'), 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 also reported that the U.S. Department of Justice ('DOJ') 'is also scrutinizing whether anti-money laundering procedures had been breached in the way the Singapore casino handles high rollers.'
On this news, Las Vegas Sands' stock price fell $1.41 per share, or 2.9%, to close at $47.28 per share on July 20, 2020.
Then, on September 16, 2020, Bloomberg reported that Marina Bay Sands 'has hired a law firm to conduct a new investigation into employee transfers of more than $1 billion in gamblers' money to third parties[.]' The article quoted the Singapore Casino Regulatory Authority ('CRA') as stating that 'there were weaknesses in [Marina Bay Sands'] casino control measures pertaining to fund transfers[.]'
On this news, Las Vegas Sands' stock price fell $2.18 per share, or 4.2%, to close at $49.67 per share on September 16, 2020.
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.
CONTACT:
Robert S. Willoughby
Pomerantz LLP
rswilloughby@pomlaw.com