Bleichmar Fonti & Auld LLP is investigating Barry Diller’s unsolicited bid to acquire the remaining stock of MGM Resorts International for $48.30 per share. Diller is a member of MGM’s board and controls People, Inc., formerly IAC, Inc., which is MGM’s largest single stockholder and made the offer on June 1, 2026. The investigation focuses on potential breaches of fiduciary duty due to conflicts of interest, as Diller stands on both sides of the proposed deal and other MGM fiduciaries could receive benefits not shared by all stockholders. MGM’s board stated it will carefully review the proposal to determine the best course of action for the company and its shareholders. Current MGM shareholders are encouraged to contact the firm to discuss their legal options, with representation on a contingency fee basis.
MGM Resorts InternationalMGM is the target; investigation into potential breaches of fiduciary duty and conflict of interest.
People IncorporatedPeople Inc. is the bidder; investigation into fiduciary duties may affect deal outcome.