As the stocks of corporations in Las Vegas and across the nation continue to plummet to dangerous lows, many shareholders are getting very anxious and concerned about the situation. But they have found a way to voice their frustrations toward these sad financial developments in the form of lawsuits. Two Las Vegas Sands Corp. shareholders are actually suing the corporation for gross mismanagement and an assortment of other allegations.

Just last week, the stock price for Las Vegas Sands Corp. closed out for the day at $4.64 on the New York Stock Exchange. That brought it down 39 cents which was 7.75%. As a popular and extremely successful company, Las Vegas Sands has lost much ground in terms of being able to retain much of its solid reputation. It has now become the victim of many jokes. Obviously those jokes are told by people unaffiliated with the corporation who did not lose their fortunes in this financial crisis. The lawsuit indicated that the shareholders believe that the senior management of the Las Vegas Sands Corp. did considerable wrong in the way they managed the company’s funds and the plaintiffs have alleged that the company has even made some sort of admission to that effect.

For their part, the folks at Las Vegas Sands Corp. chose not to discuss any details related to any pending lawsuits at this time. Las Vegas Sands is not the only company to fall from such great heights during 2008. Others including Boyd Gaming Corp. International Game Technology and the MGM Mirage have also experienced some very difficult times. Each of these companies have had their stock prices fall anywhere from 70 to more than 90%. That is a tough blow for a company, even a strong company, to recover from.

As times get harder and harder during this economic downturn that has thrashed the nation and many parts of the rest of the world, Las Vegas has been anything but immune to the woes of this slowdown. More recently, some investors have been quite upset as they have watched their investments in the city sink to lower and lower levels. Two shareholders who invest in the Las Vegas Sands Copr. Have gone so far as to sue the popular casino’s board of directions because if the dramatically falling price of the shares for the company.

During the past excruciatingly brutal 14 months, the shareholders of Las Vegas Sands have seen the value of their stocks plummet and lose some 95 percent of their value. The lawsuit that the shareholders are bringing was filed on Nov. 26 in the Clark County District Court. Essential they two investors argument is that the company’s board of directors have breached their fiduciary responsibilities, wasted corporate assets and overall grossly mismanaged the situation and their money at the same time.

In a time of a widespread economic crisis that is affecting seemingly everyone’s way of life, one could almost compare this lawsuit to the obese people suing McDonalds for selling them greasy calorie-laden foods. It just doesn’t see right. I mean, granted, these people did lose a huge chunk of money. The shares of Las Vegas Sands stock traded for as much as $148.76 in late October of 2007. On Nov. 24 of this year, the stock was down to an all-time low of $2.89. That is pretty disheartening. Hopefully these folks didn’t put all of their eggs in one basket!