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GGP, Inc.

Case Summary

GGP, Inc. Securities Litigation

Case Summary

Case Status:    ONGOING    
On or around 08/31/2018 (Ongoing date of last review)

Filing Date: May 03, 2018

According to the Complaint, GGP is an S&P 500 company focused exclusively on owning, managing, leasing and redeveloping high quality retail properties throughout the United States.

On March 26, 2018, GGP and Brookfield Property Partners, L.P. ("Brookfield") announced a plan of merger in which Brookfield will acquire all of the outstanding shares of GGP common stock, in compensation for which, GGP stockholders will be entitled to elect to receive, either $23.50 in cash or one Brookfield unit or one share of a new Brookfield U.S. REIT security, subject to proration.

On May 2, 2018, Brookfield filed a registration statement on Form S-4/F-4 (the “S-4”) with the Securities and Exchange Commission (the “SEC”) in support of the Proposed Transaction. The Complaint alleges that the S-4 is wholly insufficient and provides either materially misleading and or insufficient information for GGP stockholders to properly analyze whether to vote in favor of the Proposed Transaction, and is therefore a continuation of the Board’s breaches of fiduciary duty aided and abetted by Brookfield and Goldfinch Merger Sub Corp.

Company & Securities Information

Defendant: GGP, Inc.

COMPANY INFORMATION:

Sector: Financial
Industry: Misc. Financial Services
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: GGP
Company Market: New York SE
Market Status: Public (Listed)

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.

First Identified Complaint

Justin Blonstein, et al. v. GGP, Inc., et al.

COURT: D. Delaware
DOCKET #: 18-CV-00679
JUDGE: Hon. Sherry R. Fallon
DATE FILED: 05/03/2018
CLASS PERIOD START: 03/26/2018
CLASS PERIOD END: 05/03/2018
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Brodsky & Smith, LLC
    Two Bala Plaza, Suite 602, Brodsky & Smith, LLC, PA 19004
    610.667.6200 610.667.6200 ·
  2. Cooch & Taylor, P.A.
    The Brandywine Building; 1000 West Street, 10th Floor, Cooch & Taylor, P.A., DE 19801
    302.984.3800 302.984.3939 ·
First Identified Complaint (FIC) Filings:
No Document Title Filing Date
1 Class Action Complaint For Breach Of Fiduciary Duties And Violations Of Section 14(a) And 20(a) Of The Securities Exchange Act Of 1934 05/03/2018
2 U.S. District Court Civil Docket 05/04/2018
 
 

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