Roy Jacobs & Associates announces that a securities fraud class action has been filed on behalf of purchasers of the stock of General Growth Properties, Inc. (NYSE:GGP, �General Growth� or the �Company�) common stock during the period from April 30, 2008 through October 26, 2008, (the �Class Period�). For further information, please contact Roy L. Jacobs, Esq. toll-free at 1-888-884-4490 or by e-mail to rjacobs@jacobsclasslaw.com. The Complaint alleges that during the Class Period, defendants made false and misleading statements about General Growth�s access to financing, wherein 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 Company�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 Company�s own Code of Business Conduct and Ethics. On September 22, 2008, the Company announced that it was pursuing a comprehensive evaluation of its financial and strategic alternatives. On October 3, 2008, the Company suspended its dividend and then, on October 27, 2008, announced it was marketing for sale its portfolio of retail properties in Las Vegas. On this series of disclosures, General Growth�s stock price collapsed, falling from $21.42 on September 19, 2008 to less than $2.00 per share on October 27, 2008, or nearly 95% from its Class Period high of $43.83 per share. If you bought General Growth common stock during the (i) period from April 30, 2008 through October 26, 2008, and suffered a loss (whether or not you have sold your shares), or (ii) on or prior to April 30, 2008 and still intend to hold your shares, and you are interested in discussing your rights free of charge, please contact Roy L. Jacobs. Mr. Jacobs will be glad to personally speak with you. All motions for the appointment of lead plaintiff must be made no later than December 30, 2008.
GGP Inc. (NYSE:GGP)
Historical Stock Chart
From Jul 2024 to Jul 2024 Click Here for more GGP Inc. Charts.
GGP Inc. (NYSE:GGP)
Historical Stock Chart
From Jul 2023 to Jul 2024 Click Here for more GGP Inc. Charts.