Democratic Group Retracts Prostitution Accusations Against Adelson

Adelson filed suit, claiming defamation.

The Democratic Congressional Campaign Committee retracted statements it made linking Las Vegas Sands (LVS.N) Chief Executive Sheldon Adelson with funds it said came from "Chinese prostitution money" and that it said had been contributed to Republican congressional candidates.

"In press statements issued on June 29 and July 2, 2012, the DCCC made unsubstantiated allegations that attacked Sheldon Adelson, a supporter of the opposing party," the Democratic committee said in a statement. "This was wrong. The statements were untrue and unfair, and we retract them."