MGM Investors Want Late CEO Replaced By Widow In MDL

Law360, New York (July 24, 2012, 5:28 PM EDT) -- An MGM Resorts International investor asked a Nevada federal judge on Tuesday to replace the company's late CEO with his widow as a defendant in multidistrict litigation over alleged stock losses from a troubled $9 billion Las Vegas development.

Lead plaintiff Arkansas Teacher Retirement System filed a motion to substitute Deborah Lanni for her late husband, former MGM CEO J. Terrence Lanni, who died in July 2011. The MDL alleges the company, Lanni and three other top executives misled investors about financial woes stemming from the...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.