An investor in NYSE:GGP shares filed a lawsuit against directors of General Growth Properties.
Investors who purchased shares of General Growth Properties Inc (NYSE:GGP) and currently hold any of those NYSE:GGP shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 – 1554.
The plaintiff alleges that a provision in General Growth Properties Inc’s bylaws requiring cause to remove a board member violates the Delaware General Corporation Law. More specifically, the plaintiff alleges that the board continues to leave in place the for-cause provisions, which are per se violation of Sections 141(k) of the Delaware General Corporation Law and are unenforceable as a matter of Delaware law and that thus the board has continued to breach their fiduciary duties by employing and benefiting from the improper entrenchment device
On August 1, 2016, NYSE:GGP shares closed at $31.86 per share.
Those who purchased NYSE:GGP shares have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North – Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com