MGM Resorts International Investigation Overview
Bleichmar Fonti & Auld LLP announces an investigation into Barry Diller's offer to buy MGM Resorts International (NYSE:MGM) through People, Inc. (“People,” f/k/a/ IAC, Inc.) for $48.30 per share.
If you are a current MGM Resorts shareholder, you are encouraged to submit your information using the form on this page. You may also email adam@bfalaw.com or call 212.789.3619.
Why is the MGM Transaction being Investigated?
Barry Diller is a member of MGM’s board of directors. People, Inc. (“People,” f/k/a/ IAC, Inc.), a company that Diller founded and controls, is MGM’s largest single stockholder. On June 1, 2026, People made an unsolicited bid to buy the remaining MGM stock for $48.30 per share.
As a director, Diller owes fiduciary duties to MGM and its stockholders. People also recently entered a governance agreement with MGM that gave People the right to designate two MGM directors going forward. Because Diller “stands on both sides” of the proposed deal, and because other MGM fiduciaries could potentially receive benefits that other stockholders do not receive, these facts create a create conflicts of interest under Delaware law. If MGM and Diller reach an agreement, they must comply with Delaware’s strict requirements for “cleansing” these conflicts and ensuring the deal is fair to MGM’s stockholders.
In a news release on June 1, MGM stated that the board of directors “will carefully review and consider the proposal to determine the course of action that it believes is in the best interests of the Company and all of its shareholders.”
BFA is investigating whether the potential agreement complies with Delaware law.
How Do I Submit My Information?
If you are a current holder of MGM Resorts stock, you are encouraged to submit your information using the form on this page. You may also email adam@bfalaw.com or call 212.789.3619.
You can also contact:
Adam McCall
adam@bfalaw.com
212.789.3619
All representation is on a contingency fee basis; there is no cost to you. Shareholders are not responsible for any court costs or expenses of any class action lawsuit. The firm will seek court approval for any potential fees and expenses.
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