GGP Ggp Inc. (delisted)

LOS ANGELES, Dec. 10 /PRNewswire/ -- Notice is hereby given that Glancy Binkow & Goldberg LLP has filed a class action lawsuit in the United States District Court for the Northern District of Illinois on behalf of a Class consisting of all persons or entities who purchased or otherwise acquired the securities of General Growth Properties, Inc. ("General Growth" or the "Company") (NYSE:GGP), between April 30, 2008 and October 26, 2008, inclusive (the "Class Period"). A copy of the Complaint is available from the court or from Glancy Binkow & Goldberg LLP. Please contact us by phone to discuss this action or to obtain a copy of the Complaint at (310) 201-9150 or Toll Free at (888) 773-9224, by email at , or visit our website at http://www.glancylaw.com/. The Complaint charges General Growth and certain of its executive officers with violations of federal securities laws. Among other things, plaintiff claims that defendants' material omissions and dissemination of materially false and misleading statements concerning the Company's business, operations and prospects, caused General Growth's stock price to become artificially inflated, inflicting damages on investors. General Growth is a self-administered and self-managed real estate investment trust. The Complaint alleges that throughout the Class Period defendants knew or recklessly disregarded that their public statements were materially false and misleading. Specifically, the Complaint alleges that defendants' public statements were false and misleading or failed to disclose or indicate the following: (1) that General Growth would not be able to refinance billions of dollars of debt that was coming due in late 2008 and early 2009; (2) that this was a direct result of the Company's inability to access debt financing; (3) that certain Company executives had received loans from the CEO's family trust in violation of General Growth's Code of Business Conduct and Ethics; (4) that the Company lacked adequate internal controls; and (5) that, as a result of the foregoing, defendants' Class Period statements about the Company lacked a reasonable basis. At the end of the Class Period, as the truth about General Growth's financial condition and defendants' misleading statements and failures to disclose became known to the market, the Company's stock price dropped from a Class Period high of $43.83 to less than $2.00 per share, thereby damaging investors. Plaintiff seeks to recover damages on behalf of Class members and is represented by Glancy Binkow & Goldberg LLP, a law firm with significant experience in prosecuting class actions, and substantial expertise in actions involving corporate fraud. If you are a member of the Class described above, you may move the Court, no later than December 30, 2008, to serve as lead plaintiff, however, you must meet certain legal requirements. If you wish to discuss this action or have any questions concerning this Notice or your rights or interests with respect to these matters, please contact Michael Goldberg, Esquire, of Glancy Binkow & Goldberg LLP, 1801 Avenue of the Stars, Suite 311, Los Angeles, California 90067, by telephone at (310) 201-9150 or Toll Free at (888) 773-9224 or by e-mail to . DATASOURCE: Glancy Binkow & Goldberg LLP CONTACT: Lionel Z. Glancy, or Michael Goldberg, both of Glancy Binkow & Goldberg LLP, +1-310-201-9150, 1-888-773-9224, Web Site: http://www.glancylaw.com/

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