Steve Wynn’s ex-wife Elaine has suffered a legal setback in her fight to regain control over her 9.4 percent stake in Wynn Resorts.
Last Jan. 23, Nevada District Judge Elizabeth Gonzalez ordered Elaine Wynn’s team of Quinn Emanuel lawyers from “participating in the case other than to contest their disqualification,” according to a Bloomberg report. The law firm is also banned from using “any confidential information from Wynn Resorts in ‘any way, shape, or form.’”
The former Mrs. Wynn brought in a new team of lawyers from the Los Angeles-based firm to provide more legal power in the three-way brawl involving her, Steve Wynn and Japanese billionaire Kazuo Okada.
If you recall, Elaine Wynn filed an amended lawsuit in early 2016 with a goal to reestablish her control over the $900 million worth of stake in Wynn Resorts, which she hasn’t had since divorcing Steve for the second time in 2010. Elaine was ousted from Wynn’s board of directors in 2015 after Steve accused her of breaching their 2010 agreement by transferring $10 million of her Wynn shares to a charitable foundation under her control without first gaining ex-husband’s permission. Elaine, however, claimed her ouster breached that same 2010 agreement, making it null and void.