Steve Wynn steps down from RNC finance chair role amid misconduct allegations (IRA, fundraiser)

[NickofDiamonds]

I never would have thought that he would have gave up so easy.

Steve Wynn steps down from RNC finance chair role amid misconduct allegations

Steve Wynn stepped down on Saturday as the RNC's finance chief, after a Wall Street Journal article detailed a litany of sexual harassment allegations against him.
The claims span a number of years, according to The Journal, and at least one resulted in a large settlement of over $7 million.
Wynn was a prodigious fundraiser, and is a personal friend of President Donald Trump.

https://www.cnbc.com/2018/01/27/stev...legations.html

[kwong7]

None of this surprises me at all. RNC finance chair is a highly replaceable role and I think it was the right move to make morally and politically for the RNC. How would they expect people to comfortable donate money to the group with this information out there?

Now the question specific for this forum would be what does Wynn do with respect to his company, how does the board and shareholders react, and what happens to the stock price? I can see him being removed yet keeping controls behind the curtain, but it seems like Wynn is a fighter and will likely not give up so easily. He didn't exactly fold when it came to the Mirage, Bellagio, or his messy divorce. I just wonder if there are some activist investors who hold a large enough portion of WYNN to stoke some volatility. As I said in a previous thread, I would stay away and even consider going short here for another 10% down with 5% up as my exit.

[loves2read]

And this belongs on the INVESTING forum because???

[jdhpa]

Originally Posted by loves2read

And this belongs on the INVESTING forum because???

I'll second that.