Oregon sues gambling mogul Steve Wynn and his former company

SALEM, Ore. — The state of Oregon has sued Nevada gambling mogul Steve Wynn and the board of directors of Wynn Resorts Ltd. for allegedly failing to act in the best interests of shareholders and stop a pervasive pattern of sexual misconduct at the company.

The offices of Oregon Attorney General Ellen Rosenblum and Treasurer Tobias Read say Oregon’s pension system held 8,506 shares of Wynn Resorts worth a total of $1.3 million.

The civil case, alleging massive breaches of fiduciary duty that caused damage to the company and impaired long-term shareholder value, was filed Tuesday in Clark County, Nevada.

Wynn has denied harassed and assaulted women. He resigned as chairman and CEO of the company bearing his name Feb. 6.

The company did not respond immediately to a request for comment.