March 8, 2021 - An amended complaint was filed.

October 22, 2020 - An investor in shares of Las Vegas Sands Corp. (NYSE: LVS) filed a lawsuit in the U.S. District Court for the District of Nevada over alleged violations of Federal Securities Laws by Las Vegas Sands Corp. in connection with certain allegedly false and misleading statements made between February 27, 2016 and September 15, 2020.

Las Vegas, NV based Las Vegas Sands Corp., together with its subsidiaries, develops, owns, and operates integrated resorts in Asia and the United States. Las Vegas Sands reported that its annual Total Revenue rose from over $13.72 billion in 2018 to over $13.73 billion in 2019, and that its EBIT increased from over $3.77 billion in 2018 to over $4.32 billion in 2019.

On July 19, 2020, it was reported that Las Vegas Sands had settled a lawsuit brought by a former patron, Wang Xi ( Xi ), meeting his demand for a S$9.1 million ($6.5 million) payment. Xi reportedly sued the Marina Bay Sands casino in 2019 to recover S$9.1 million of his funds that the casino allegedly transferred to other patrons from his casino deposit accounts in 2015 without his approval, which triggered a probe into the casino by local authorities. It was also reported that the U.S. Department of Justice ( DOJ ) is also scrutinizing whether anti-money laundering procedures had been breached in the way the Singapore casino handles high rollers.

On September 16, 2020, it was reported that the Company’s Singapore casino, Marina Bay Sands, “has hired a law firm to conduct a new investigation into employee transfers of more than $1 billion in gamblers’ money to third parties[.]” Further, the article quoted Singapore’s Casino Regulatory Authority stating “there were weaknesses in [Marina Bay Sands’] casino control measures pertaining to fund transfers[.]” Shares of Las Vegas Sands Corp. (NYSE: LVS) declined from $53.51 per share on September 15, 2020, to $44.06 per share on September 24, 2020.

According to the complaint the plaintiff alleges on behalf of purchasers of Las Vegas Sands Corp. (NYSE: LVS) common shares between February 27, 2016 and September 15, 2020, that the defendants violated Federal Securities Laws.

More specifically, the plaintiff claims that between February 27, 2016 and September 15, 2020, the Defendants made false and/or misleading statements and/or failed to disclose that weaknesses existed in Marina Bay Sands' casino control measures pertaining to fund transfers, that the Marina Bay Sands' casino was consequently prone to illicit fund transfers that implicated, among other issues, the transfer of customer funds to unauthorized persons and potential breaches in the Company's anti-money laundering procedures, that the foregoing foreseeably increased the risk of litigation against the Company, as well as investigation and increased oversight by regulatory authorities, that Las Vegas Sands had inadequate disclosure controls and procedures, that consequently, all the foregoing issues were untimely disclosed, and that as a result, the Company's public statements were materially false and misleading at all relevant times.