CORRECTING and REPLACING Gerard & Associates Files Class Action Suit Against Turnberry/MGM...

CORRECTING and REPLACING Gerard & Associates Files Class Action Suit Against Turnberry/MGM Grand Towers, LLC; First Command Planning Is Not Being Sued in This Lawsuit

SAN DIEGO--(Business Wire)--
Headline of release dated July 21, 2008 should read: Gerard &
Associates Files Class Action Suit Against Turnberry/MGM Grand Towers,
LLC; First Command Planning Is Not Being Sued in This Lawsuit (sted
Gerard & Associates Files Class Action Suit Against First Command
Financial Planning, et al.)

The corrected release reads:

GERARD & ASSOCIATES FILES CLASS ACTION SUIT AGAINST TURNBERRY/MGM
GRAND TOWERS, LLC; FIRST COMMAND PLANNING IS NOT BEING SUED IN THIS
LAWSUIT

The law firms of Gerard & Associates, Blumenthal & Nordrehaug,
Fowler White Boggs Banker, P.A., and Robert Fellmeth announced today,
that on July 2, 2008, a class action pending in the United States
District Court for the District of Nevada was amended to add claims
for violations of the Securities Exchange Act of 1934. The amended
complaint seeks to recover, on behalf of all persons who purchased one
or more of the securities in the Signature at the MGM Grand
Hotel/Casino sold by Turnberry/MGM Grand Towers, LLC and related
entities ("Class Members"), all amounts paid for MGM condominium-hotel
room units as investment securities. This case is entitled Sussex, et
al. v. Turnberry/MGM Grand Towers, LLC, et al., Case No. 08 cv 00773.

If you wish to serve as a lead plaintiff, you must move the Court
no later than 60 days from today. If you wish to discuss this action
or have any questions concerning this notice or your rights or
interests, please contact Robert Gerard of Gerard & Associates at
(702) 251-0093, or via e-mail at rgerard@gerardlaw.com. You may also
contact Normand Blumenthal or Kyle Nordrehaug of Blumenthal &
Nordrehaug at (858)551-1223 or via e-mail at norm@bamlawlj.com or
kyle@bamlawlj.com. If you are a member of this class, you can view a
copy of the complaint as filed online at http://www.bamlawca.com. If
you wish to retain our firm, join the group of lead plaintiffs, and
assure your participation in any recovery, please complete and execute
the Certification form posted at the above website and return it to us
as promptly as possible by faxing to (702) 251-0094 or by mailing it
to Gerard & Associates, 2840 South Jones Boulevard, Building D, Suite
#4, Las Vegas, Nevada 89146. Any member of the purported class may
move the Court to serve as lead plaintiff through counsel of their
choice, or may choose to do nothing and remain an absent class member.

The amended complaint alleges that Turnberry/MGM Grand Towers, LLC
and related entities violated the Securities Exchange Act of 1934 and
the Securities Act of 1933. The complaint further alleges that the
defendants' conduct also violated Nevada Deceptive Trade Practices
Act, Nevada Securities Act and constituted fraud.

The amended complaint alleges that Defendants illegally and
fraudulently sold Plaintiffs and others the air rights to hotel
condominium room units as investment securities (the "Securities") at
the Signature at the MGM Grand Hotel/Casino in 2006 & 2007. Central to
the Defendants' marketing of the Securities were the omission of
material facts and the representations that the Securities would
generate substantial amounts of revenue to the purchaser. The amended
complaint alleges that the reason the air rights to the hotel
condominium units are securities is because (a) the value of the units
are all dependent upon the success or failure of the MGM Grand branded
enterprise; (b) Defendants' sales promotions of the investment in the
hotel room gave rise to a reasonable understanding that a valuable
benefit, over and above the entire amount paid for the physical air
rights to the hotel room, would accrue to purchasers as a result of
the operation of the enterprise as an MGM Grand branded enterprise
pursuant to the MGM Grand Rental Program; and, (c) the purchasers, as
owners of shares in the enterprise, did not receive and did not intend
to receive the right to exercise any practical or actual control over
the managerial decisions of the MGM Grand enterprise. The amended
complaint further alleges that Defendants' marketing of the Securities
overtly emphasized the revenue split and the amount of revenue the
purchaser would receive from the rental of the Securities, branded as
MGM Hotel rooms with the MGM Grand enterprise and that Defendants
intentionally omitted material facts about the Securities and the
revenue therefrom. As a result of the Defendants' sale of unregistered
securities through false and misleading statements, and the
concealment of facts known to them, Class Members were induced into
purchasing these Securities as investments and are now entitled to
rescission and/or damages.

The Plaintiffs in this case are represented by the law firms of
Gerard & Associates, Blumenthal & Nordrehaug, Fowler White Boggs
Banker, P.A., and Robert Fellmeth, which have expertise in prosecuting
investor class actions and extensive experience in actions involving
consumer fraud and deception. These firms are located in Las Vegas,
Nevada, San Diego, California, and Tampa, Florida and are devoted to
the protection of consumers and have been active in major litigation
in state and federal courts throughout the United States. The
Blumenthal & Nordrehaug website is located at www.bamlawca.com and has
more information about this firm. The Gerard & Associates website is
located at www.gerardlaw.com and has more information about this firm.

Gerard & Associates
Robert Gerard, Esq., 619-232-2828
or
Blumenthal & Nordrehaug
Normand Blumenthal, Esq., 858-551-1223
Kyle Nordrehaug, Esq., 858-551-1223

Copyright Business Wire 2008