This website has been established to provide general information related to the Las Vegas Sands Corp. (“LVS” or the “Company”) Securities Litigation. The capitalized terms used on this website, and not defined herein, shall have the same meanings ascribed to them in the Stipulation and Order Regarding Class Notice Procedures (the "Stipulation") dated September 1, 2016, which can be found and downloaded by clicking on the Case Documents tab above.
This is a securities class action assigned to United States District Judge Andrew P. Gordon in the United States District Court for the District of Nevada (the “Court”), and is styled Fosbre v. Las Vegas Sands Corp., et al., No. 2:10-cv-00765-APG-GWF. The Court has appointed the law firm of Robbins Geller Rudman & Dowd LLP as Lead Counsel for the Class.
The Class is defined as follows:
All persons or entities who purchased or otherwise acquired the common stock of LVS from August 2, 2007 through November 5, 2008, inclusive (the “Class Period”) who were damaged by the Defendants’ alleged misconduct.
LVS is a global developer and operator of destination properties, casinos and resorts. Throughout the Class Period, LVS common stock traded on the New York Stock Exchange under the ticker symbol “LVS.”
The Second Amended Class Action Complaint for Violations of the Federal Securities Laws (the “Complaint”), filed on September 7, 2012, alleges that the Defendants violated the Securities Exchange Act of 1934. The Complaint alleges that the Defendants violated the federal securities laws by making false and misleading statements and omissions during the Class Period regarding the Company’s financial condition and its global development projects that artificially inflated the price of LVS common stock. The Complaint further alleges that as the truth regarding Defendants’ allegedly false or misleading statements and omissions was revealed, artificial inflation was removed from the price of LVS common stock, causing the share price to drop and damaging members of the Class. The Lead Plaintiffs seek to recover money damages for members of the Class.
The Defendants vigorously deny the Complaint’s allegations and deny that they did anything wrong. They assert that none of the Defendants made any misleading statements or omissions, and that they disclosed all information required to be disclosed by the federal securities laws. The Defendants also contend that LVS’s stock price declined for reasons other than the alleged false or misleading statements, including due to the global economic crisis in fall 2008 and other market and industry conditions.
On January 3, 2017, the Court granted Defendants' Motions for Summary Judgment. Lead Plaintiffs have filed a Notice of Appeal.
Although the information on this website is intended to assist you, it does not replace the information contained in the Notice of Pendency of Class Action and the Stipulation, both of which can be found and downloaded from this website. We recommend that you read the Notice and other relevant case documents carefully.
|Request Exclusion||Noverber 30, 2016|