MGM MIRAGE hit by shareholder lawsuit

PRLog (Press Release) - Aug 25, 2009 -
An investor in MGM MIRAGE (Public, NYSE:MGM) shares has filed a lawsuit in the United States District Court for the District of Nevada on behalf of purchasers of MGM Mirage(NYSE: MGM) common stock between August 2, 2007 and March 5, 2009, against MGM and others over alleged violations of Federal Securities Laws.

If you purchased MGM Mirage(NYSE: MGM) common stock between August 2, 2007 and March 5, 2009, you have certain options and there are strict and short deadlines running. Deadline: October 16, 2009. Those investors and current long term MGM investors should contact the Shareholders Foundation, Inc. at:

Email: mail@shareholdersfoundation.com

Or call us at: +1 (858) 779 - 1554

According to the complaint charges MGM and certain of its officers and directors violated the Securities Exchange Act of 1934 by issuing between August 2, 2007 and March 5, 2009 a series of allegedly materially false and misleading statements concerning MGM’s liquidity and the prospects for the development of MGM’s CityCenter. The plaintiff accuses that 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 and 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 purchasers of MGM Mirage (NYSE: MGM) common stock between August 2, 2007 and March 5, 2009 damages.
MGM MIRAGE (Public, NYSE:MGM), located in Las Vegas, is engaged in gaming and resort operations. MGM MIRAGE  owns and operates casino resorts, which includes offering gaming, hotel, dining, entertainment, retail and other resort amenities. MGM MIRAGE  reported in 2007 Total Revenue of $7.69164billion with a Net Income of $1.58442billion and in 2008 Total Revenue of $7.20877billion with a Net Loss of $855.29million. Shares of MGM MIRAGE (NYSE: MGM) recently traded at $8.45 per share, down from a 52weekHigh of $37.00 per share, almost $74 per share in 2008, and over $96 per share in 2007.

Those who  purchased MGM Mirage(NYSE: MGM) common stock between August 2, 2007 and March 5, 2009, have certain options and there are strict and short deadlines running. Deadline: October 16, 2009. Those investors and current long term MGM investors should contact the Shareholders Foundation, Inc. at:

Email: mail@shareholdersfoundation.com

Or call us at: +1 (858) 779 - 1554

Shareholders Foundation, Inc.
Trevor Allen
3111 Camino Del Rio North - Suite 423 -
92108 San Diego
Tel:+1-(858)-779-1554
Fax:+1-(858)-605-5739
mail@shareholdersfoundation.com
www.ShareholdersFoundation.com
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