Steven Jacobs
Las Vegas Sands and its owner Sheldon Adelson have finally ended their long running legal battle with its former head of its Chinese business, CEO Steven Jacobs.
It was announced that Las Vegas Sands has “reached a comprehensive and confidential settlement” that had been going on since 2010 when Jacobs launched a wrongful termination from the company. He alleged that he was fired in order to cover up illegal activities committed by the company as it developed its business interests in Macau.
The announcement filed with the Hong Kong stock exchange said Jacobs dismissed all claims in Nevada state and federal court against Las Vegas Sands, Sands China and its subsidiary Venetian Macau, and Adelson.
Jury selection for the Jacobs case had been set to begin June 27. It had been delayed by a dozen pre-trial issues, including the company’s unsuccessful attempt last month to remove the Nevada state court judge presiding from the case, with its lawyers arguing that there was a conflict of interest.
Over the years there has been a tendency by Las Vegas Sands to outlast and out finance Jacobs hoping he would either give up with years of court room battles or run out of money to continue his very expensive legal fight, neither happened and in fact Jacobs won many of those battles inside the courtroom.
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