It seems like yesterday when Stephen Paddock goes on a shooting spree to kill and hurt hundreds of people outside the Mandalay Bay. However, it happens all the way back in October of 2017. In an article from the associated press, it says the casino resort giant MGM casino is paying out $800,000,000. That’s right, they are paying out eight hundred million dollars to the victim of the deadliest shootings if modern US history.
In the recent Associated press release, they discuss the settlement. Furthermore, they tell the Las Vegas casino customers what they told the Securities Exchange Commission (SEC) in the quarterly report. More specifically, MGM says “They tell the SEC they believe that they will reach a settlement of $800,000,000 by May 2020 in their quarterly report” In addition to that, MGM casino says it has already paid seven hundred fifty-one million dollars in insurance toward the settlement.
Robert Eglet’s Insight On The Las Vegas Shooting Settlement
While that sounds good, it doesn’t seem concrete. In fact, the corporate owner of Mandalay Bay resorts and the attorney Robert Eglet that is mediating for the plaintiffs says they believe it is premature to say. Robert Eglet goes onto say “We’re not even close to resolving all the terms and issues before we have a settlement,”
Robert Eglet is an attorney that is representative forty-two hundred claims. Also, this includes the people that are suing in the state of Nevada, California and other states that have not filed for damages formally yet.
Eglet says, “It’s true that a settlement is possible.” Shortly after that, he says, “But I will tell you it’s not probable. Nothing is signed. We have a long way to go before we have an agreement.” Moreover, it appears the Eglet has been discussing the Las Vegas shooting domestic terrorist incident with MGM Resorts attorneys for some time. He also says that he is aware that MGM was making their quarterly report to the Securities Exchange Commission.
MGM’s Security Exchange Commission Report Says Will Reach Settlement By May 2020?
On Thursday, May 17, 2010, Robert Eglet says he reviews the document from the Security Exchange Commission. Moreover, it appears he concurs that a settlement may be reached by May 2020. Debra DeShong is a spokesperson for MGM Grand. Furthermore, it seems she says that progress is being made on multiple mediation sessions in the last year. Moreover, Deshong states, their goal. For MGM, it appears they want “to resolve these matters so that all impacted can move forward in their healing process,” she says.
It appears that the Las Vegas shooting is a complex matter to litigate. There are almost two thousand people that have already filed claims. However, MGM Resorts seems to want to consolidate all claims into one federal court case. After all, the domestic terrorist victims are seeking damages for physical and psychological harm from The shooter, Stephen Paddock. His Las Vegas Shooting was a domestic terrorist plot as he uses an automatic gun to fire on the crowd from his suite at Mandalay Bay. This horrific incident kills fifty-eight people and injures almost one thousand folks.
• Source: MGM Might Pay $800 Million in Las Vegas Shooting Settlement From Usnews.com On May 17, 2019.