SOURCE: Izard Nobel LLP

August 19, 2009 17:53 ET

Izard Nobel LLP Announces Class Action Lawsuit Against MGM Mirage

WEST HARTFORD, CT--(Marketwire - August 19, 2009) - The law firm of Izard Nobel LLP, which has significant experience representing investors in prosecuting claims of securities fraud, announces that a lawsuit seeking class action status has been filed in the United States District Court for the District of Nevada on behalf of those who purchased the common stock of MGM Mirage ("MGM" or the "Company") (NYSE: MGM) between August 2, 2007 and March 5, 2009, inclusive (the "Class Period").

The Complaint charges that MGM and certain of its officers and directors violated federal securities. Specifically, the Complaint alleges that 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 public. As the true facts about MGM and the CityCenter leaked into the market, the price of MGM stock declined.

If you are a member of the class, you may, no later than October 19, 2009, request that the Court appoint you as lead plaintiff of the class. A lead plaintiff is a class member that acts on behalf of other class members in directing the litigation. Although your ability to share in any recovery is not affected by the decision whether or not to seek appointment as a lead plaintiff, lead plaintiffs make important decisions which could affect the overall recovery for class members.

While Izard Nobel LLP has not filed a lawsuit against the defendants, to view a copy of the Complaint initiating the class action or for more information about the case, and your rights, visit: www.izardnobel.com/mgm/, or contact Izard Nobel LLP toll-free: (800) 797-5499, or by e-mail: firm@izardnobel.com. For more information about class action cases in general, please visit our website: www.izardnobel.com.

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