GGP Execs Remain On Hook In ERISA Suit

Law360, New York (May 10, 2010, 2:44 PM EDT) -- A putative class of pension plan participants has mostly deflected a bid by General Growth Properties Inc. to toss a lawsuit accusing executives and officers of pumping the company’s 401(k) plan with the bankrupt mall owner's common stock even though they knew it to be an imprudent investment.

Judge James Zagel of the U.S. District Court for the Northern District of Illinois on Thursday granted the defendants’ motion to dismiss claims that executives and officers omitted investment advice in filings with the U.S. Securities and Exchange...
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