The slugfest between casino tycoon Stephen Wynn and James S Chanos, the short-seller, has heated up. Wynn has lodged a lawsuit against Chanos, alleging that he made comments purposely implying that Wynn had broken the Foreign Corrupt Practices Act while operating his casinos in Macau. Interestingly, Chanos, whose hedge fund Kynikos Associates focuses on short-selling, may have much to gain by the stock price of Wynn’s company going south. But the move might backfire as a lawsuit would open Wynn’s business to judicial scrutiny, which might expose some unsavoury secrets. Indeed, a lot hangs on this case, including the boundaries of free speech.