Shareholders in the Las Vegas Sands Corp. have filed a derivative lawsuit against Sands Casino billionaire chief executive Sheldon G. Adelson and other directors, claiming “gross mismanagement” that caused suspension of casino construction projects in Macau, Singapore, Pennsylvania and Las Vegas.
The suit, filed Nov. 26 in Nevada’s Clark County district court, alleges that the November announcements of worse-than-expected third quarter results came one week after the company disclosed it was in danger of defaulting on $5.2 billion in credit secured by the Las Vegas properties.
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