Ex-Light & Wonder Exec Says Company Asked Him to Alter Financial Reports

2024-12-02

A former Light & Wonder (NASDAQ: LNW) employee claims a superior ordered him to falsify financial reports — allegations that if proven true in court could potentially uncover the skirting of federal securities laws.

Light & Wonder stock
The Light & Wonder logo. A former employee claims a superior ordered him to alter financial reports. (Image: PR Newswire)

In a whistleblower suit filed last month in Oakland County, Mi. Circuit Court, Antonio Amormino — the former staffer of the slot machine manufacturer — claimed that Vice President of Operations Dror Damchinsky asked him to alter Light & Wonder’s budget file, which could have painted a rosier picture of the company’s financials than was reality.

(Damchinsky) requested that he generate different numbers for the company’s capital asset reports, thereby attempting to present a false picture of the company’s financial condition,” according to Amormino’s legal complaint.

Counsel for the plaintiff, who was formerly head of Light & Wonder’s casino studio for North America, added in the court filing that their client was fired for failing to comply with Damchinsky’s request. If that’s accurate, it would be a violation of Michigan whistleblower laws.

The gaming device manufacturer told press outlets it disagrees with Amormino’s assertions and that it’s vigorously defending itself through appropriate legal channels.

Light & Wonder Exec Balked at Boss’s Requests

The court document indicates Damchinsky approached Amormino on July 9 about potentially changing the budget file to perhaps bolster the appearance of Light & Wonder’s financials. The plaintiff didn’t oblige, warning Damchinsky that such action could run afoul of the Sarbanes-Oxley Act.

Colloquially known as “SOX,” that bill was signed into law in 2002 following the collapse of Enron. It’s aimed at shoring up transparency at publicly traded firms and safeguarding against financial fraud. The legal filing also noted that Amormino notified head of accounting Vickie Huber and office manager Melissa Sly about Damchinsky’s demands, and followed up with a similar request of Amormino on July 31.

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