Las Vegas Sands Corp. and Sheldon Adelson’s Securities Class Action Victory

Sidley secured a significant victory for Las Vegas Sands Corp. and its Chairman and CEO, Sheldon Adelson, in a federal securities class action brought by plaintiff shareholders.

The suit, filed in 2010 in the U.S. District Court for the District of Nevada, alleged securities fraud claims arising out of the Company’s global development of gaming properties, including in Macao and Singapore, during 2007 and 2008. Over the class period, Las Vegas Sands’ stock price declined from a high of $146 per share to $6 per share.

Las Vegas Sands Corp owns and operates casino resorts and convention centers. The Company operates in the United States, Macau and Singapore. The company, led by Sheldon Gary Adelson, Robert Glen Goldstein and George Tanasijevich, in 2017 recorded $13 Billion Revenues.

Sidley advised Las Vegas Sands Corp and its CEO with Walter Carlson (Picture), Walter Carlson, Jim Ducayet, Courtney Hoffmann, Rob Hochman, Matt Fogelberg, Larry Fogel, Ben Brunner, Neil Conrad, as well as Sidley alumni Meredith Jenkins Laval, Zac Madonia, Adam Murad, Catharine DeJulio, and Sam Spiro. Assistance was provided by paralegal James Platt, and project assistants Bill Lawrence and Catherine Ulrich.

Involved fees earner: Walter Carlson – Sidley Austin LLP; Jim Ducayet – Sidley Austin LLP; Courtney Hoffmann – Sidley Austin LLP; Robert Hochman – Sidley Austin LLP; Matt Fogelberg – Sidley Austin LLP; Lawrence Fogel – Sidley Austin LLP; Benjamin Brunner – Sidley Austin LLP; Neil Conrad – Sidley Austin LLP;

Law Firms: Sidley Austin LLP;

Clients: Las Vegas Sands Corp.; Sheldon Adelson;