After two times of jury deliberations, the verdict is in: Las Vegas Sands (LVS) has to fork over $70 million in previous due fees and accrued interest to one-time consultant and Hong Kong businessman Richard Suen for his role in getting LVS into the Macau gaming market from the beginning of the decade.
This judgment had been the second time a court has ordered LVS to pay up their former consultant; the earlier ruling in 2008, for $43.8 million, was later overturned by the Nevada Supreme Court. Looks like LVS needs to have just paid up then; now they should pay nearly dual to account for amassed fascination with the interim.
The current suit kicked off early this year, and ran for months before shutting arguments were finally made in May. The suit has received a lot of newsworthy drama, including testimony from both Sheldon Adelson, the notorious LVS chairman, and his former company president William Weidner; between these two, apparently no love has become lost. Weidner left the LVS brand name four years ago, and testified at the latest hearing that Adelson’s pugilistic nature, even during their original trial against Suen in 2008, was ‘injurious to relationships with China.’ You might not discern that from the LVS Asia spreadsheets, but Weidner nonetheless says he ‘lost confidence’ in his former boss’s decision-making abilities at that point.
More Suits Ongoing
In the world that is lit (المزيد…)