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Las Vegas Sands Corp. Under Long Term Investor Investigation

  • If you are a current long term investor in Las Vegas Sands Corp. (NYSE:LVS) stock, you have certain options and you should contact the Shareholders Foundation, Inc.

  • To have your information reviewed for options and to receive notifications about this investigation, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.

Investigation Overview

Company
Las Vegas Sands Corp.
Security
NYSE: LVS

Summary

A LVS investor filed a lawsuit on behalf of purchasers of the common stock of Las Vegas Sands Corp. (NYSE:LVS) between August 1, 2007 and November 6, 2008, against Las Vegas Sands Corp. and others alleging violations of Federal Securities Laws. Meanwhile an investigation on behalf of current long term investors in Las Vegas Sands Corp. (NYSE:LVS) was announced.

According to the complaint filed in the United States District Court for the District of Nevada the plaintiff alleges that The Las Vegas Sands Corporation and certain of its officers and executives violated the Securities Exchange Act of 1934 by failing between August 1, 2007 and November 6, 2008, to disclose material adverse facts about its true financial condition, business and prospects. Las Vegas Sands Corp., located in Las Vegas, Nevada, owns and operates The Venetian Resort Hotel Casino, The Palazzo Resort Hotel Casino and The Sands Expo and Convention Center in Las Vegas, Nevada, and the Sands Macao, The Venetian Macao Resort Hotel, the Four Seasons Hotel Macao, Cotai Strip and the Plaza Casinoin the Macau Special Administrative Region of the Peoples Republic of China. Las Vegas Sands Corp. reported in 2007 Total Revenue of $2.95057billion, in 2008 $4.389.95billion, and in 2009 $4.5631billion.

Then on November 6, 2008, Las Vegas Sands Corp's auditor, PricewaterhouseCoopers LLP, expressed doubt about Las Vegas Sands Corp's ability to continue as a going concern, prompting PricewaterhouseCoopers LLP to issue a going concern qualification which alerted shareholders to the true extent of Las Vegas Sands Corp's perilous condition. In response, so the lawsuit, the trading price of Las Vegas Sands common stock (LVS) declined nearly 33%. Las Vegas Sands stock (LVS) traded on November 04, 2008, at $15.50 per share, and on November 07, 2008, as low as $6.52 per share. Shares of Las Vegas Sands Corp. (LVS) traded recently at $24.25 per share, down from its 52weekHigh of $26.57. LVS shares reached over $88 per share in 2008, and traded during 2007 as high as $138.93 per share.

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