Class Action

General Growth Properties, Inc. (?GGP?) Investigation

By etripodi

Finkelstein Thompson LLP is currently investigating General Growth Properties, Inc. (?GGP?)(NYSE: GGP) after the Company revealed that it would be unable to refinance billions of dollars of debt coming due in 2008 and 2009.

Beginning in April 2008, GGP publicly represented that the Company had the ability to refinance this debt. But on September 22, 2008, GGP announced that it was ?pursuing a comprehensive evaluation of its alternatives, both financial and strategic.” On October 3, 2008, the Company suspended its dividend. Then, on October 27, 2008, the Company revealed that it was marketing for sale its portfolio of real estate properties in Las Vegas. In response to this news, GGP?s stock price collapsed from $21.42 on September 19, 2008 to less than $2.00 on October 27, 2008 ? a 91% drop.

If you are interested in discussing your rights as a GGP shareholder, or have information relating to this investigation, please contact Finkelstein Thompson?s Washington, DC offices at (877) 337-1050 or by email at contact@finkelsteinthompson.com.

Full post as published by ClassLawBlog.com on November 07, 2008 (boomark / email).