SOURCE: Brower Piven, A Professional Corporation

September 02, 2009 18:05 ET

Brower Piven Encourages Investors Who Have Losses in Excess of $200,000 From Investment in MGM Mirage to Inquire About the Lead Plaintiff Position in Securities Fraud Class Action Lawsuit Before the October 19, 2009 Lead Plaintiff Deadline

BALTIMORE, MD--(Marketwire - September 2, 2009) - Brower Piven, A Professional Corporation announces that a class action lawsuit has been commenced in the United States District Court for the District of Nevada on behalf of purchasers of the common stock of MGM Mirage ("MGM" or the "Company") (NYSE: MGM) during the period between August 2, 2007 and March 5, 2009, inclusive (the "Class Period").

No class has yet been certified in the above action. Members of the Class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. If you wish to choose counsel to represent you and the Class, you must apply to be appointed lead plaintiff no later than October 19, 2009 and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement and how much of a settlement to accept for the Class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the Company during the Class Period. You may contact Brower Piven (through hoffman@browerpiven.com or 410/986-0036) to answer any questions you may have in that regard.

The complaint accuses the defendants of violations of the Securities Exchange Act of 1934 by virtue of the Company's misstatements during the Class Period concerning its revenues and earnings, its liquidity, and its prospects for development of its CityCenter project, all while Company insiders sold almost $90 million of personal holdings of the Company's stock. According to the complaint, as the true facts leaked into the market, the value of MGM's stock declined significantly.

If you have suffered a net loss for all transactions in MGM Mirage common stock during the Class Period, you may obtain additional information about this lawsuit and your ability to become a lead plaintiff by contacting Brower Piven at www.browerpiven.com, by email at hoffman@browerpiven.com, by calling 410-986-0036, or at Brower Piven, A Professional Corporation, The World Trade Center-Baltimore, 401 East Pratt Street, Suite 2525, Baltimore, Maryland 21202. Attorneys at Brower Piven have combined experience litigating securities and class action cases of over 40 years. If you choose to retain counsel, you may retain Brower Piven without financial obligation or cost to you, or you may retain other counsel of your choice. You need take no action at this time to be a member of the class.

Contact Information

  • CONTACT:
    Charles J. Piven
    Brower Piven, A Professional Corporation
    Baltimore, Maryland
    410/986-0036
    Email Contact