General Growth Reaches $5.8M ERISA Settlement

Law360, New York (September 7, 2010, 1:03 PM EDT) -- Bankrupt real estate developer and mall owner General Growth Properties Inc. is seeking bankruptcy court approval for a $5.75 million class action settlement in consolidated litigation brought on behalf of GGP workers who said the company's stock was an imprudent investment for its 401(k) plan.

GGP filed its motion for authorization and approval of the settlement pact in the U.S. Bankruptcy Court for the Southern District of New York on Friday.

The deal is subject to approval both from the New York bankruptcy court and the...
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