MGM Mirage - Securities Class Action

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Stanford Law School

MGM Mirage Summary: According to a press release dated August 19, 2009, the complaint charges MGM and certain of its officers and directors with violating Section 10(b) of the Securities Exchange Act of 1934. The complaint alleges that during the Class Period, defendants made materially false and misleading statements concerning MGM's financial strength, liquidity and the prospects for the development of MGM's CityCenter. This caused MGM's common stock price to be artificially inflated, allowing MGM insiders to sell close to $90 million worth of MGM stock at higher prices than they would otherwise have obtained.

As the true facts about MGM's deteriorating financial condition and the Company's inability to fund the CityCenter project leaked into the market, the inflation in the price of MGM stock was removed, causing plaintiff and the members of the Class damages.

On November 4, 2009, Judge Robert C. Jones signed the Order consolidating the two related actions under In re MGM Mirage Securities Litigation, 2:09-cv-01558-RCJ-LRL.

On October 25, 2010, Judge Gloria M. Navarro granted the motion to appoint lead plaintiff, and denied the motions to consolidate other actions. Public Pension Funds’ (composed of Arkansas Teacher Retirement System, the Philadelphia Board of Pensions and Retirement, and the Luzerne County Retirement System) and Stichting Pensioenfonds Metaal en Techniek are appointed co-lead plaintiffs.

On January 14, 2011, the lead plaintiffs filed a Consolidated Amended Class Action Complaint. The defendants responded by filing motions to dismiss on March 15, 2011.

INDUSTRY CLASSIFICATION:
SIC Code: 7990
Sector: Services
Industry: Casinos & Gaming

COMPANY/ISSUER NAME:	MGM Mirage
COMPANY/ISSUER TICKER:	MGM
COMPANY WEBSITE:	http://www.mgm-mirage.com

FIRST IDENTIFIED COMPLAINT IN THE DATABASE

Robert Lowinger, et al. v. MGM Mirage, et al.

COURT: D. Nevada	DOCKET NUMBER: 09-CV-01558
JUDGE NAME: Hon. Brian E. Sandoval
DATE FILED: 08/19/2009	SOURCE:
CLASS PERIOD START: 08/02/2007	CLASS PERIOD END: 03/05/2009
TYPE OF COMPLAINT: Complaint (Unamended and Unconsolidated)
PLAINTIFF FIRMS NAMED IN COMPLAINT:
Abraham, Fruchter & Twersky (New York, One Pennsylvania Plaza) One Pennsylvania Plaza, Suite 1910, New York, NY, 10119 (voice) 212.279.5050, (fax) 212.279.3655, JFruchter@FruchterTwersky.com Coughlin Stoia Geller Rudman & Robbins LLP (Melville) 58 South Service Road, Suite 200, Melville, NY, 11747 (voice) 631.367.7100, (fax) 631.367.1173, info@csgrr.com/ Goodman Law Group 520 South Fourth Street, Las Vegas, NV, 89101 (voice) 702.383.5088, (fax) 702.385.5088, _____________________________________________ TOTAL NUMBER OF PLAINTIFF FIRMS: 3

DOCUMENTS FOR THE FIRST IDENTIFIED COMPLAINT
Class Action Complaint For Violations Of Federal Securities Laws
Type: Complaint		Date on the document: 08/19/2009
Order Consolidating Actions
Type: Order of Consolidation		Date on the document: 11/04/2009
Order
Type: Order Appointing LP/LC		Date on the document: 10/25/2010

REFERENCE COMPLAINT

In Re: MGM Mirage Securities Litigation

COURT: D. Nevada	DOCKET NUMBER: 09-CV-01558
JUDGE NAME:
DATE FILED: 01/14/2011	SOURCE:
CLASS PERIOD START: 08/02/2007	CLASS PERIOD END: 03/05/2009
TYPE OF COMPLAINT: First Amended and Consolidated
PLAINTIFF FIRMS NAMED IN COMPLAINT:
Barroway Topaz Kessler Meltzer & Check, LLP (San Francisco) 580 California Street, Suite 1750, San Francisco, CA, 94104 (voice) 415.400.3000, (fax) 415.400.3000, info@btkmc.com Nix Patterson & Roach, LLP 205 Linda Drive, Daingerfield, TX, 75638 (voice) 903.645.7333, (fax) , Robbins Geller Rudman & Dowd LLP (San Diego) 655 West Broadway, Suite 1900, San Diego, CA, 92101 (voice) 619.231.1058, (fax) 619.231.7423, _____________________________________________ TOTAL NUMBER OF PLAINTIFF FIRMS: 3

DOCUMENTS FOR THE REFERENCE COMPLAINT
Consolidated Complaint for Violation of Federal Securities Laws
Type: Complaint		Date on the document: 01/14/2011
U.S. District Court Civil Docket
Type: Docket		Date on the document: 11/14/2011

OTHER DOCUMENTS
Civil Cover Sheet
Case Name and/or Number: Khachatur Hovhannisyan v. Baldwin
Type: Complaint		Date on the document: 10/15/2009

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