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MGM might pay $800 million in Las Vegas shooting settlement
Source: Associated Press
MGM might pay $800 million in Las Vegas shooting settlement
By KEN RITTER
May 16, 2019
LAS VEGAS (AP) — Casino giant MGM Resorts told federal regulators Thursday it might pay up to $800 million to settle liability lawsuits stemming from the 2017 mass shooting in Las Vegas — the deadliest in modern U.S. history.
“The company believes it is reasonably possible that a settlement will be reached” by next May, it told the Securities and Exchange Commission in a quarterly report.
MGM Resorts also said it has $751 million in insurance to pay toward a settlement.
However, a lawyer handling mediation talks for plaintiffs called it premature for the corporate owner of Mandalay Bay resort to report a possible settlement range between $735 million and $800 million.
-snip-
By KEN RITTER
May 16, 2019
LAS VEGAS (AP) — Casino giant MGM Resorts told federal regulators Thursday it might pay up to $800 million to settle liability lawsuits stemming from the 2017 mass shooting in Las Vegas — the deadliest in modern U.S. history.
“The company believes it is reasonably possible that a settlement will be reached” by next May, it told the Securities and Exchange Commission in a quarterly report.
MGM Resorts also said it has $751 million in insurance to pay toward a settlement.
However, a lawyer handling mediation talks for plaintiffs called it premature for the corporate owner of Mandalay Bay resort to report a possible settlement range between $735 million and $800 million.
-snip-
Read more: https://apnews.com/81d7015c27b84e26a5c89939e8d3dbb4
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