NAMC Newswire - Vegas Grand Condo Lawsuit
Nancy Levy forwarded this press release about a class action in Vegas. This release seems to come from the law firm that filed the suit. I don't have anything to post from the other side, but the press release has links to the complaint and other things:

Five individuals who executed Reservation Agreements to purchase specific high-rise condominiums at Vegas Grand, a Las Vegas high-rise condominium development, have filed a class action lawsuit against developers who unilaterally cancelled their agreements. In 2003 and 2004, the original purchasers paid deposits up to $25,000 for their reservations of specific condominium units at Vegas Grand at specified prices.The lawsuit was filed after the developer notified buyers on April 25, 2005 that their current Reservation Agreements are cancelled effective May 11, 2005, and that unless they agreed to substantial increases in the prices for their condos by May 10, 2005, that their units would be offered to the public at newly announced higher prices. The developer has scheduled a sales event for Vegas Grand at the Wynn Hotel on Friday, May 20, 2005. The purchasers are concerned that their condominium units will be resold on May 20th to unsuspecting new buyers at almost double the price of their original purchase reservations.