shares of wynn under pressure fighting back against elaine wynn, the ex-wife of the founder steve wynn for more, contessa is tracking the details. >> hi. melissa, a war of the wynns. wynn resorts whipped out a new weapon against elaine wynn in the battle for the board recently launched and initiative called restore wynn, overhauled the board beginning with booting one responded questioning elaine's motives as a director who was an integral part of the old wynn an extended period of time it's difficult to see how she will be helpful in driving our evolution. of course, the majority of the board is part of old wynn, as is general counsel kim sinatra and current ceo matt maddox, with the company since the beginning. the board went on to publicize letters to and from elaine wynn. she was trying to meet with the three women newly appointed to the board. board only wants a meeting with all directors and only after the shareholder meeting next wednesday will notably chairman boone reads rights to elaine we expect the discussions at the meeting would not be made public quote/unquote. elaine wy

the stock nearing an all-time high of the support grows for steve wynn's ex-wife. ntessa joins us on set with the latest. >> in this battle for the board's, elaine wynn's garnered the support of all the shareholders. investors vote against legacy director john haugen buck. he's been waging this serious campaign to push him out, highlighting he's serving on the company's committee looking at the sexual allegations against steve wynn even though he's tied closely to the former ceo. so it presents a strong conflict of interest and it compromises the reputation of the company and the board and they're looking at the compensation committee saying, look, he wasn't looking out for shareholders when he was deciding executive compensation. wynn resorts has responded to all of this with continued defense for john haugen balk and his contributions to the board. and while that's true, iss went on to say though the board acted swiftly when faced with a crisis, the legacy directors apparently failed to change the batteries of the smoke detectors well before the fire broke out. ca

steve wynn reportedly damaged another picasso when he evidently hit it with his elbow. as restored. so perhaps wynn again -- >> this was a trip and fall? a whoops? >> a $70 million picasso? >> awkward. >>> some photographs have triggered a tabloid scandal. >> meghan markle's father is accused of staging the photos, possibly making money off the alleged stunt. here's paula faris. >> reporter: as the world gets ready for harry and meghan's highly-anticipated wedding, a potential embarrassment playing out across the british tabloids. the uk's "mail" publishing these photos of meghan's father tom showing meghan's dad allegedly participating in a staged photo shoot with the paparazzi. >> it will not please the queen in any way. and given that the palace has issued this statement pleading for his privacy, it makes them look rather stupid. >> reporter: over the weekend, buckingham palace releasing this consent. kensington palace also announcing that a chicago bishop will join the ceremony. and despite the fact that they requested charitable donations instead of presents, there

this is not the first time that steve wynn had a painting damage.first time he backed into his own painting and ripped it. you go to a major auction house and go to the dry cleaners and the have a smudge in your seat. alix: someone is going to get sued for that. jason: it's also a key moment in the art market with the rockefeller selling. david: that's a tough business. you have sotheby's and christie's really fighting it out with each other. it doesn't help the auction house. alix: sotheby's, christie's, and now steve wynn. david: many thanks to jason kelly. ceo sergioer marchionne is making some sweeping changes on production. more on what i'm watching next. it's of course cars. alix: i'm watching oil. if you up tv , watch is online and clicked on our charts and graphics. go to tv on your terminal and scroll through. this is bloomberg. ♪ david: ok, surprise, surprise. i'm watching cars and trucks. fiat ceo sergio marchionne, who is retiring this year, has made a big announcement today. basically fiat is largely going to go out of the smal

right after steve wynn, the ceo of wynn resorts was accused of disturbing behavior. lot of sexual misconduct allegations. remember, because it will be important in the narrative i'm about to give you. the problem is the market peaked at the end of january. mgm got stuck with other stocks. the stock bounced in february but it contained one thing the margin guidance was light which management blamed on a tough convention in las vegas and continued disruption at the monte carlo. the stock meandered sideways by april we heard mgm was looking into buying either wynn resorts as the stock was pulverized without steve wynn at the helm he may be a flawed human being but he was a great businessman or they wanted to buy the boston harbor casino project which looks good when the chatter was all of wynn resorts being bought mgm got hit. then it bounced a bit. acquiring wynn would be a headache and expensive snapping up another regional property from a motivated seller would be more straightforward, like the washington, d.c. property there would be difficulties. by last wednesday

that she was involved every step of the way in the building of these companies with her husband steve wynnn resorts, really remaking las vegas into the much more upscale, broad-based entertainment capital that it is today. she's not going off into the sunset she now has 9% of the shares in the company worth about $2 billion. >> biggest shareholder >> her husband head had to sell it all after the harassment scandal. she told me, i'm a grandmother i would rather be like designing hotel rooms, but i'm not walking into the sunset. she could easily do that this is her life work. she said i'm not going to leave it in a tarnished and compromised state. and her point was this was a controlled company by steve wynn because she had to vote her shares along with her husband. these were his hand-picked people running it on the board in key management positions. so he's gone but how much else has changed? all these cronies still sitting around running the company that's true of any company now which is controlled by one person that is abruptly removed. even though he's out, the saga that is now unfoldi

those are allegations steve wynn has called preposterous.s bring that up a lot of shareholders who will show up today are locals we got to hear from them what they think is important. >> thank you very much, contessa brewer in las vegas. big wynn story today >> dow up almost 11 points here. trying to hold on to se in "squawk alley" is back after this ♪ approaching medicare eligibility? you may think you can put off checking out your medicare options until you're sixty-five, but now is a good time to get the ball rolling. keep in mind, medicare only covers about eighty percent of part b medical costs. the rest is up to you. that's where aarp medicare supplement insurance plans insured by unitedhealthcare insurance company come in. like all standardized medicare supplement insurance plans, they could help pay some of what medicare doesn't, saving you in out-of-pocket medical costs. you've learned that taking informed steps along the way really makes a difference later. that's what it means to go long™. call now and request this free decision g

allegations of predatory behavior bankrupted harvey weinstein's company and forced out wynn founder steve wynnthe stock on a roller coaster ride. the stakes are high for corporations failing to root out sexual harassment. so they've turned in droves to private investigators. >> an ounce of prevention really is worth a pound of cure here, because the cost both in terms of potential drop in stock price, legal and pr costs, possibility of the regulators getting involved, they're enormous compared with the relatively modest expenditure in hiring folks like us in order to rule out this behavior. >> reporter: a private investigator for 25 years, he says he's seen about 35% more client calls related to sexual misconduct over the last six months. >> i have never seen a societal phenomenon that has had an e me too post weinstein world. >> reporter: firms are looking for help in due diligence. he's also looking into the background of potential board members. and some clients are seeking possibly predatory behavior in competitors, a move that one of his clients calls weapons feminism. he often gets work

come to my show in vegas, and while you're there, feel free to chisel steve wynn's name off anythingou see. don't forget to buy tickets to my tony nominated show in new york city. the baby name of the week is beetlejuice, beetlejuice, beetlejuice. and finally, it's your nascar highlight of the week. [ humming ] >> aaah! anybody else think that cheater kevin harvick's car sounded funny? that joke is for my base. my apologies to the deaf community who will not be able to understand that video. good night. ♪ >> from comedy central's world news headquarters in new york, this is "the daily show" with trevor noah. ( cheers and applause ) ♪ >> trevor: welcome to "the daily show," everybody! thank you so much for tuning if! i'm trevor noah! so good to have you! tonight's guest -- tonight's guest, presidential historian jon meacham is joining us, everyone! ( cheers and applause ) but first, by now, you've probably seen the footage out of hawaii where a previously chilled-out volcano recently stepped up its game. luckily, no one has been hurt because the lava moves really slowly, but it's stil

this is made up of people close to steve wynn.lem moving forward >> i think that in any company where you've had an iconic founder who has actually created the las vegas of today, you know, he's somebody that everybody admires and learns from and, you know, he was a large figure and touched everybody in the industry so i think that there's probably a pretty large circle of people that have been influenced by him. >> what do you think of matt maddox and his ability to step into the ceo shoes >> what i think is remarkable is how smooth the succession has been the company hasn't missed a beat his leadership team is very cohesive amazing clarity of vision and priorities on moving forward the business, achieving great financial performance, expanding in boston, and looking for other major opportunities. >> i also talked to pat milroy now they've lost hoggenbuck who was part of the committee. it will continue with two people they will finish the work. it will be in sync with massachusetts investigation as well and as for the shareholder

on wynn resorts the massachusetts gaming commission has just issued its decision excludeing now steve wynnthe founder and former ceo of wynn resorts, as a qualifier for the gaming license in boston they say that wynn resorts has substantially shown evidence that the relationship has been terminated in a meaningful way, and that as long as steve wynn does not vote his shares, he no longer owns them, but by the rules, he could vote them at the shareholder meetings next week, as long as that does not happen, he's excluded as a qualifier, step one in keeping the gaming license for wynn resorts it does not let the company off the hook entirely. the questions about whether the board acted appropriately in applying for the gaming license still at stake, and, of course, there are issues that come up in the shareholder meeting next week about who is on that board. kelly, back to you >> yeah. that overhang may explain there's not a reaction in the shares still, thank you very much the latest there on wip. now, next guest says despite volatility, investors are buying netflix and at&t >> with the late

vision that'll be brought into reality the focus though of course is still the over hang with the steve wynn allegations and the board member who heads up the internal investigation said they have interviewed more than 100 people and reviewed three million documents and they'll coincide that with the massachusetts game mission inquiry. >> elaine wynn did not choose to speak. she's gratified by the investors response to her and restore wynn initiative she was glad to hear that maddox says that boston harbor is not for sale they are also now one of the lead plaintiffs along with new york city pension funds in a shareholders lawsuit against wynn resorts >> what are the damages? >> the share price as are backup to where it was in january >> there has been losses and in other words, you could have had better gains >> reporter: and another shareholder asked maddox how wynn will benefit on sports gambling he was measured in his response. they would take away approach and monitor the progress state by state but especially in massachusetts is where it might matter he was firm in his instance, it woul

>> and he was going to sell this -- this was launching his new year steve wynn has a new online galleryings. this was going to fund that expansion. >> so it would be terrible for the poor painter whose brush slipped. >> yes, he's probably had a bad week. >> and i would make the case, we don't have painters anywhere near where we keep our goods that could be a selling point. >> it happens. it happens at both of the places and all the places but this is going to take a lot to sort out with the insurance companies i'm sure. >> thank you, robert >>> let's go to see herrera for a news update. sue? >> melissa, thank you very much. here's what is happening at this hour, everyone the suspect in the santa fe high school shootings has been identified as 17-year-old student dmitrios pagourtzis. nine students and one teacher were killed. "the houston chronicle" citing senior law enforcement officials reported pagourtzis was armed with a rifle, a pistol and pipe bombs. >>> president trump is choosing active veterans affairs secretary robert wilkie to permanently lead the department. he's led for two

there's this tug of war going on, especially over legacy director appointed directly by steve wynn andas no business being on the board, much less on the commission investigating the misconduct allegations she's trying to get shareholders to side with her and not re-elect him the shareholder meeting is on wednesday and there's a lot of back and forth today leading up to that meeting, guys. >> thank you, contessa contessa brewer for us. >>> to today's washington agenda, president trump hoeflder hosting a round table with the ceos of auto companies and is expected to give a speech on lowering drug prices bertha coombs has what to expect on that speech first to eamon javers. >> reporter: we expect some of the most powerful ceos in the automotive industry to come to this gate to my left, to your right here we're expecting mary barra and other ceos for foreign automakers to come here. i'm told by white house officials that one thing that the president wants to hear is what do the ceos think they want the-mile-per-hour gallon standards to actually be it could be an awkward meeting for some o

. >>> more bad luck for casino mogul steve wynn paintings.t but christie's pulled it after it got damaged. they won't say how the $70 million artwork was damaged. in 2006 wynn accidentally hit another picasso painting with his elbow leaving a hole in it. it had to be restored and it did eventually sell for $155 million. >>> i want to take you back live to sky 7 over the scene of our major traffic headache here this morning in oakland. this is southbound 880, not too far from broadway, between oak street and broadway. i want to see if they have all lanes cleared now. it actually looks like we are fully back open. we have the roadway fully blocked for a short time today, then three lanes down and we've been operating with a couple lanes blocked here for about 45 minutes. looks lik we are clear, we watched them haul the big rig away. now we're looking at a pretty hefty backup as you leave the maze. it's about two miles in length, but about 45 minutes timewise. if you are just coming eastbound out of the maze, you definitely want to take 580 inst

. >> lvs, the problem with it, the industry is rife with good managers although steve wynn was the best manager i've ever seen. mgm is great and would hold on to lvs and, yes, you can buy it. that good a company even up here at by the way its 52-week high when it comes to tariffs three economy, yeah, there's international, there's domestic and there's tech and, by the way, what do you want to buy who is the winner in the s&p 500, it's nucor. "mad money" tonight, knew tso it time to circle back? i have the exclusive 3m has been one heck of a sticky situation but pitting the bulls with the bears to tell you where i stand. and from gaming, this company has hot properties in its portfolio and a nice yield i'm sitting down with the ceo of vicci properties so stick with cramer >> announcer: don't miss a second of "mad money." follow @jimcramer on twitter if you have a question, tweet him at #madtweets. send an e-mail to madmoney@cnbc.com or give us a call at 1-800-743-cnbc miss something, head to madmoney.cnbc.com. ♪ how do you know you made the right call... ...you just do. the light beer yo

scarlet: there was supposed to be a sale of some picasso's by steve wynn, but that ended up in cold - being pulled because of damage to the artwork? >> big drama. friday, something happens. it was a big secret. le, we don'to know exactly. that is picasso's self-portrait from the 1940's, estimated at $70 billion and there was a lot of excitement about it. all of a sudden, it is withdrawn. and there is another painting withdrawn. the irony is that steve when had another picasso that was also for sale, a beautiful woman, picasso's lover at the time, and he purchased it and when i got damaged, he ended up selling it for more. he seems to be having really bad karma with picassos. scarlet: that, this year in general. joe: not something you have to worry about if you are investing in stock. scarlet: thank you so much, great talking to you. "what'd you miss?" the etf industry has something for anyone, including millennials who will be driving trends for years to come. of course there is an etf targeting their buying power. >> the global millennials dramatic etf trades under the sitting kicker

steve wynn is out.ir is out because he paid $1.6 million to a play nate during an extramarital affair who had an abortion, but if you're under criminal investigation? >> i think it's perverse he's still working for the rnc. you see this kind of defiance that mirrors donald trump's position about all this. there's nothing there should why should we change anything? it's the witch hunt argument. there's a witch hunt. we're not to cave to it. >> if i were in the rnc, i would be investigating into all the funds cohen raised. so you can see if something needs to be done. maybe that's happening. >> i don't know. to me if someone's under criminal investigation, i would say let's just suspend you until we find out what happens and maybe everything's fine and maybe everything isn't. seems absurd. thank you, all. next, the president twisting a former intel chief's words to spread his conspiracy theory about an fbi spy. james clapper joins me to respond and also to explain if he has evidence for the russians actua

. >>> allegations of predatory behavior forced out steve wynn, sent that stock on a roller coaster in the me too era. many corporations are turning to private investigators. leslie picker has that story >> one ounce of prechvention is worth a pound of cure here >> he says calls about sexual misconduct investigations are up 35% over the last six months >> i've never seen a societal phenomenon that has had the impact on our business as the me too movement. >> he says corporations are looking for help ahead of acquisitions also looking into the background of board members and some clients are seeking possible predatory behavior in competitors. a move that one of his clients calls weaponizing feminism nardelo also gets work through people like ed little who sought the help clearing the name of a client >> the me too movement is a valid movement, but there's been overreaction, we believe and so in representing somebody who's been accused, it's important to find out whether or not there's any credibility to the allegations. >> after discovering sexual misconduct despite the recent wave of a

and she was heading up the company's investigation into the sexual harassment allegations against steve wynnthat coming up. >> if i see a third iphone in the mix, two iphone stories are crazy enough - >> wait, did you see that? wait how many -- wait, you know, when you have a lot of news, and this one is still attached to my producer >> that is the third >> i shoud give thld give that t this point >> thank you very much, following it all there in las vegas. shares of twitter closing up 2% today, rallying 17% in the last week, by the way, and should investors give the stock a follow joining us now are "fast money" traders, pete and guy. in the stance. oh, what do you think, guy, about the twitter? i feel like every time -- this name is so much more up and down than now the major four platform guys it just tends to move a lot. i don't know like we're talking about it on a crazy tear, but what's the latest with twitter? >> more up than down, though >> yes >> last quarter, april 26th, ad engagements up 69% revenue line was better. i think twitter made a mistake i said it number of times. it's no

. >> what about steve wynn >> $58 stock >> you want buying this thing hand over fist >> i'll tell you within pepsi has been years since we've seen an insider buy. why is that? >> all right. >> if they're not willing to put their money out there, why should we? >> stem the tide this is pete najarian. he's talking to every ceo out there. >> i had a pepsi at lunch today. >> you shouldn't be drinking those. i'm just say pg. >> it was a diet pepsi >> just water. >> i know. pete najarian, guy adami, thank you. we'll see you coming up at 5:00 p.m. eastern time on "fast money. >>> jim grant of grant's ing ciners e observ i joinusomg up >>> welcome back shares of square down after-hours after its first earnings report. that's spotify square is down 6% after-hours after reporting its latest reports. deidra bosa has more >> down about 6% but remember these shares are up about 40% year to date just got off the phone with the company cfo sara frier i asked her to respond to a recent claim that wall street is drunk on bitcoin nonsense and square's bitcoin trading has been insignificant frier saying

. >>> plus the battle is heating up, snappinging back at the ex-founder of steve wynn

. >> and to wrap this up, wynn's former ceo steve wynn shares something in common with ceos who received many of them are gone off the job. a study shows of last year's 20 highest paid ceos, 8 are no longer in the role that does include csx's hunter harrison who passedaway. while the others departed because of deteriorating financial performance or other issues martin one of those? sorrell? >> wpp >> i don't know. we said probably not or is it >> he was definitely one of the top paid >> yeah, he was. and shares of drop box, not lock box are lower in premarket trading. it comes despite a beat on the top and bottom lines and dropbox's quarterly report had an ipo the stock has jumped about 10% this week ahead of that report >> president trump's decision to exit the iran deal sent shock waves through the international community. joining us right now to break out the fallout is director of the future of iran initiative at the atlantic council our guest today is pat toomey. barbara, thank you for joining us today >> thank you >> why don't you give us your assessment what it means with the unit