| Company: | MGM Mirage |
| Ticker Symbol: | MGM |
| Class Period: | Aug-2-07 to Mar-5-09 |
| Date Filed: | Aug-18-09 |
| Lead Plaintiff Deadline: | Oct-17-09 |
| Court: | District of Nevada |
| Allegations: | |
The complaint charges MGM and certain of its officers and directors with violations of the Securities Exchange Act of 1934. MGM primarily owns and operates casino resorts and offers gaming, hotel, dining, entertainment, retail and other resort amenities.
During the Class Period, defendants made positive statements about the Company's revenues and earnings. The complaint alleges that, at the same time, defendants made a series of materially false and misleading statements concerning MGM's liquidity and the prospects for the development of MGM's CityCenter. Prior to the disclosures of the true facts, MGM insiders sold close to $90 million worth of their personally held MGM stock to the unsuspecting public. As the true facts about MGM and the CityCenter leaked into the market, the inflation in the price of MGM stock was removed, causing plaintiff and the members of the Class damages.
If you acquired the securities of the defendants during the Class Period you may, no later than the Lead Plaintiff Deadline shown above, request that the Court appoint you as lead plaintiff through counsel of your choice. You may also choose to remain an absent class member. A lead plaintiff must meet certain requirements.
