MINNEAPOLIS, Nov. 17, 2008 (GLOBE NEWSWIRE) -- Charles H. Johnson today announced that it has commenced an investigation against General Growth Properties, Inc. ("General Growth" or the "Company") (NYSE:GGP) for potential violations of the Employee Retirement Income Security Act of 1974 ("ERISA"). The investigation focuses on investments in Company stock in the General Growth 401(k) Savings Plan (the "Plan").
The investigation focuses on concerns that General Growth and other administrators of the Plan may have breached their ERISA mandated fiduciary duties of loyalty and prudence to participants and beneficiaries of the Plan. A breach may have occurred if the fiduciaries failed to manage the assets of the Plan prudently and loyally by investing the assets in Company stock when it was no longer a prudent investment for participants' retirement savings.
If you are a participant in the General Growth 401(k) Savings Plan and purchased General Growth stock in the Plan, or have any questions concerning this notice or your rights with respect to this matter, please contact:
Neal Eisenbraun, Esq. (cjohnsonlaw@gmail.com) Charles H. Johnson & Associates 2599 Mississippi Street New Brighton, MN 55112 (651) 633-5685