NPR Wins $75 Million Payment For MGM Investors
March 5, 2016
NPR served as co-Lead Counsel in this action, representing a class of investors in MGM securities in the United States District Court for the District of Nevada. The class alleged that MGM falsely misled the market regarding MGM’s ability to survive and thrive during the U.S. financial crisis and obtain adequate capital to finance its unprecedented CityCenter project. After zealously litigating this action for almost six years, NPR obtained a settlement of $75 million on behalf of the class. The settlement is the largest securities class action recovery in the history of the District of Nevada—exceeding the combined amount of the next three largest securities class action recoveries. This result is particularly notable because it was obtained in the absence of a financial restatement by MGM or a regulatory or governmental agency investigation related to the same conduct. On March 1, 2016, the United States District Court for the District of Nevada granted final approval of the settlement.
NPR’s complex litigation team—partners Jeff Angelovich, Brad Beckworth and Susan Whatley and associates Lisa Baldwin, John Hull, Trey Duck and Drew Pate—led the prosecution of this case.
- May 20, 2015 - NPR Wins Another Gas Royalty Settlement, This Time Against Laredo Petrol
- April 29, 2015 - NPR Elects New Partners
- August 14, 2014 - NPR Obtains Settlement on Behalf of Investors in GMX Resources
- September 10, 2013 - NPR Wins an $87.5 Million Gas Royalty Settlement from Range Resources. Together With its $155 Million Settlement Against QEP, This Settlement Ranks Among the Top Five All Time Gas Royalty Settlements in Oklahoma History.
- August 2, 2013 - NPR Obtains Final Approval of $155 Million Gas Royalty Settlement
- October 25, 2012 - NPR Lead Counsel in $280 Million Final Settlement
- July 6, 2012 - Federal Court Preliminarily Approves $280,000,000 Settlement in BNY Mellon Securities Lending Litigation
- June 6, 2012 - Court Approves Settlement in AFTRA Pension Suit Against JPMorgan Chase & Co