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MGM Resorts settles lawsuits after millions of customer records stolen in data breaches

1. MGM to pay $45 million for settling class action lawsuits. 2. Two significant data breaches affected over 37 million customers. 3. 2023 ransomware attack cost MGM over $100 million in damages.

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FAQ

Why Bearish?

The significant financial loss and liabilities from cyberattacks may negatively affect MGM's stock performance.

How important is it?

The settlements indicate serious security vulnerabilities, affecting investor confidence in MGM.

Why Short Term?

Immediate financial repercussions from lawsuits and breaches likely to impact stock in the near term.

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