Summary Judgment Ruling In Las Vegas Sands Securities Suit Upheld

Mealey's (May 2, 2018, 2:40 PM EDT) -- SAN FRANCISCO — Affirming a federal district court’s grant of summary judgment, a Ninth Circuit U.S. Court of Appeals panel on May 1 ruled that lead plaintiffs in a securities class action lawsuit failed to plead any causal connection between alleged misstatements made by senior executives of casino/resort developer Las Vegas Sands Corp. (LVS) and certain of its senior executives regarding development issues with the company’s Asian casinos and the company’s drop in stock price (Pompano Beach Police & Firefighters Retirement System, et al. v. Las Vegas Sands Corp., et al., No. 17-15216, 9th Cir., 2018 U.S. App. LEXIS 11192)....