• Return to Headlines

Tutor Perini Unit To Sue MGM Mirage Over CityCenter Project (MGM,TPC)

Written on Sat, 03/13/2010 - 10:50am
By Chip Brian

3/13/2010-MGM Mirage (NYSE:MGM) told U.S. regulators Friday that the the primary general contractor for the $8.5 billion CityCenter project on the Las Vegas Strip, which MGM owns in a 50-50 partnership with Dubai world, plans to sue the project's owners for $492 million.
A spokeswoman for Perini Building, the Tutor Perini Corp (NYSE:TPC) unit which was the primary general contractor at CityCenter, said the company did not want to comment on the filing.
"CityCenter believes that its actual obligation to the general contractor is substantially less than the amount claimed and that it is also entitled to significant offsets against the claimed amount," MGM said.
The company intends to pursue all of its rights and remedies, including arbitration.

Keywords: mirage tutor perini lawsuit CityCenter Stock smartrend

Ticker(s): MGM TPC

Contact Chip Brian



Smartrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.mysmartrend.com.

Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at http://www.mysmartrend.com/morning-call-newsletter-signup.