Update In The Shareholder Class Action Lawsuit Against General Growth Properties, Inc. (NYSE:GGP) Over Alleged Violations of Securities Laws
New Shareholder Class Action Lawsuits +++ Deadline expires on December 30, 2008 +++ Go To -> www.ShareholdersFoundation & Never Miss A Deadline +++
There is a deadline coming up in the shareholder lawsuit against General Growth Properties, Inc. (NYSE:GGP) over alleged violations of Securities Laws. The deadline will expire on December 30, 2008.
If you purchased General Growth Properties, Inc. (NYSE:GGP) common stock during the period between April 30, 2008 and October 26, 2008 , you have certain options and there are strict and short deadlines running. (December 30, 2008). You should contact the Shareholders Foundation, Inc. immediately!
On Friday, October 31, 2008, a law firm has filed on behalf of a shareholder of General Growth Properties, Inc. (NYSE:GGP) a proposed class action lawsuit in United States District Court for the Northern District of Illinois on behalf of purchasers of General Growth Properties, Inc. (NYSE:GGP) common stock during the period between April 30, 2008 and October 26, 2008 over alleged violations of Securities Laws. Acoording to the complaint the plaintiff alleges that General Growth Properties, Inc. (“General Growth”) and certain of its officers and directors violated the Securities Exchange Act of 1934 by issuing false and misleading statements between April 30, 2008 and October 26, 2008 about its access to financing. Specifically, defendants represented that General Growth had the ability to refinance billions of dollars in debt that was coming due in the fall of 2008 and spring of 2009 on acceptable terms. In fact, General Growth did not have access to such financing. Further, defendants failed to disclose that the General Growth’s President/Chief Operating Officer and its Chief Financial Officer had received loans from the Chief Executive Officer’s family trust in violation of the General Growth’s own Code of Business Conduct and Ethics. Then on September 22, 2008, the General Growth announced that it was pursuing a comprehensive evaluation of its financial and strategic alternatives, on October 3, 2008, the General Growth suspended its dividend, and then, on October 27, 2008, General Growth announced it was marketing for sale its portfolio of retail properties in Las Vegas, so the lawsuit. The stockholder accuses that as a result on these news General Growth’s stock price declined, falling from $21.42 on September 19, 2008 to less than $2.00 per share on October 27, 2008, or nearly 95% from high of $43.83 per share between April 30, 2008 and October 26, 2008.
If you purchased General Growth Properties, Inc. (NYSE:GGP) common stock during the period between April 30, 2008 and October 26, 2008 , you have certain options and there are strict and short deadlines running. (December 30, 2008). You should contact the Shareholders Foundation, Inc. immediately!
Shareholders Foundation, Inc.
Allen Trevor
3111 Camino Del Rio North - Suite 423 -
92108 San Diego
Tel:+1-(858)-779-1554
Fax:+1-(858)-605-5739 Mail@ShareholdersFoundation.com www.ShareholdersFoundation.com
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