Brower Piven Encourages Investors Who Have Losses in Excess of $100,000 From Investment in General Growth Properties, Inc. to In
November 06 2008 - 2:06PM
Marketwired
Brower Piven, A Professional Corporation announces that a class
action lawsuit has been commenced in the United States District
Court for the Northern District of Illinois on behalf of purchasers
of the common stock of General Growth Properties, Inc. ("General
Growth" or the "Company") (NYSE: GGP) during the period between
April 30, 2008 and October 26, 2008, inclusive (the "Class
Period").
The complaint charges General Growth and certain of its officers
and directors with violations under the Securities Exchange Act of
1934. No class has yet been certified in the above action. Members
of the Class will be represented by the lead plaintiff and counsel
chosen by the lead plaintiff. If you wish to choose counsel to
represent you and the Class, you must apply to be appointed lead
plaintiff no later than December 30, 2008 and be selected by the
Court. The lead plaintiff will direct the litigation and
participate in important decisions including whether to accept a
settlement and how much of a settlement to accept for the Class in
the action. The lead plaintiff will be selected from among
applicants claiming the largest loss from investment in the Company
during the Class Period. You may contact Brower Piven (through
hoffman@browerpiven.com or 410/332-0030) to answer any questions
you may have in that regard.
The Complaint alleges that during the Class Period, defendants
misrepresented 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 when, in fact, General
Growth did not have access to such financing. The complaint further
alleges that after suspending its dividend on October 3, 2008, on
October 27, 2008, the Company announced it was marketing for sale
its portfolio of retail properties in Las Vegas. The complaint
alleges that as a result of these announcements, the value of
General Growth's stock declined significantly.
If you have suffered a net loss for all transactions in General
Growth Properties, Inc. common stock during the Class Period, you
may obtain additional information about this lawsuit and your
ability to become a lead plaintiff by contacting Brower Piven at
www.browerpiven.com, by email at hoffman@browerpiven.com, by
calling 410-332-0030, or at Brower Piven, A Professional
Corporation, The World Trade Center-Baltimore, 401 East Pratt
Street, Suite 2525, Baltimore, Maryland 21202. Attorneys at Brower
Piven have combined experience litigating securities and class
action cases of over 40 years. If you choose to retain counsel, you
may retain Brower Piven without financial obligation or cost to
you, or you may retain other counsel of your choice. You need take
no action at this time to be a member of the class.
CONTACT: Charles J. Piven Brower Piven, A Professional
Corporation Baltimore, Maryland 410/332-0030 Email Contact
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