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Wolf Popper Journal

Posted on 29/7/2020

Wolf Popper Journal

On May 4, 2020, Wolf Popper LLP filed an amended class action complaint  alleging breaches of fiduciary duty arising from the 2018 buyout of the publicly held shares of GGP, Inc. by GGP’s controlling stockholder, Brookfield Property Partners L.P.  The complaint alleges, among other things, that the buyout, the largest real estate public-company merger in history, was negotiated by a committee of GGP’s board that was neither disinterested nor independent from Brookfield, that the stockholder vote on the transaction was not fully informed, and that as a result of this flawed and unfair process, public stockholders received significantly less than the fair value of their GGP shares.

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