The Board of Directors of Wynn Resorts Ltd and its owner, billionaire hotelier Steve Wynn is now facing another shareholder lawsuit alleging that US$135 million donation to the University of Macau had wasted company assets and was in breach of its fiduciary duties.

This was alleged by one of its shareholders, a Louisiana police retirement fund and is very similar to those allegations made by ousted Wynn chairman Kazuo Okada. Okada had filed a same suit back in January 2012 but was dismissed by US District Judge James Mahan of Las Vegas, stating that the investors failed to show the burden of proof needed to show Wynn and the board had committed wrongdoing.

The fund sought to refile, amending the complaint and the new deadline would be on March 18. The filing, to be allowed needs the judge's consent.

The case stems from the May 2011 Wynn board approval of the cash donation to the university's Development Fund. Last May 2012, Macau's government approved the gambling casino and hotel's plan to build a US$4 billion resort on Macau's Cotai strip.