Adelson Headed Back to Court

That didn't take long. It appears that the Las Vegas Sands is being hauled back into court to face a shareholder derivative action. From the Sun:

The suit says [Sheldon] Adelson’s ownership of more than 50 percent of the company’s common stock and his ability to elect the entire board makes Las Vegas Sands a "controlled company" and that his "longstanding personal and professional entanglements and relationships with other board members, including Messrs, Chafetz and Forman ... have prevented them from acting independently to fulfill the fiduciary duties owed to Las Vegas Sands and its shareholders."

Oh, come on! Does anybody really believe that the Sands' board does anything that Adelson tells them to do? (That was a joke, of course they do.) Well, good luck to you, Shell. Just be sure to get yourself a defense attorney who isn't a total asshole this time around. 

(LV Sun)