MGM Resorts (MGM) - Get MGM Resorts International (MGM) Report is suing the more than 1,000 victims of the shooting at the Mandalay Bay in Las Vegas in order to prevent them from suing the casino resort company for the incident.
Shooter Stephen Paddock opened fire on a crowd of thousands of concert-goers on October 1, killing 58 people and wounding more than 500 others.
The federal suit notes that more than 2,500 people have either filed or threatened to file complaints against the company, claiming negligence and responsibility for death, injury and emotional distress. MGM counters that it should be shielded under a 2002 federal law that provides liability protection to any company that uses anti-terrorism technology.
MGM says that the security company it hired to work the festival is protected from liability under the law because it was certified by the Department of Homeland Security.
The suit was filed in California and Nevada.
MGM shares were up 0.21% Tuesday afternoon after experiencing volatile trading for most of the session.