San Diego, CA -- (SBWIRE) -- 07/25/2016 -- An investor in shares of General Growth Properties Inc (NYSE:GGP) 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 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

General Growth Properties Inc reported that its annual Total Revenue declined from over $2.53 billion in 2014 to over $2.4 billion in 2015 and that its Net Income increased from $665.85 million in 2014 to over $1.37 billion in 2015. Shares of General Growth Properties Inc (NYSE:GGP) grew from $19.12 per share in September 2013 to as high as $31.05 per share in January 2015.

On July 22, 2016, NYSE:GGP shares closed at $31.67 per share.

Those who purchased shares of General Growth Properties Inc 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