Search By:
Products
Injury
Topic
Company
Industry
General Growth Properties, Inc. may have breached its fiduciary duties to current and former employees who owned company stock in General Growth sponsored 401(K) plan.
Investigation Source
- Nationwide
Investigation Scope
Category Information
Investigation Topics
- Investments
- Retirement Asset
- Investment Advisor Duties
Product or Service
- 401(K)
Injury Type
- Monetary Loss
Investigation Details
Investigation and potential class action lawsuit against General Growth Properties, Inc. ("General Growth") for potential violations of the Employee Retirement Income Security Act of 1974, as amended ("ERISA").
The class action investigation focuses on investments in General Growth stock in the General Growth Stock 401(k) Savings Plan. This investigation involves 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 General Growth when it was no longer a prudent investment for participants' retirement savings.
The class action investigation focuses on investments in General Growth stock in the General Growth Stock 401(k) Savings Plan. This investigation involves 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 General Growth when it was no longer a prudent investment for participants' retirement savings.
Defendant Details
| Name (Stock Symbol) | Brief Description |
|---|---|
| General Growth Properties, Inc. (GGP) | General Growth Properties, Inc. is a self-administered and self-managed real estate investment trust |