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Howard Hughes Corp (NYSE:HHC) Investor Lawsuit Filed Over CEO’s $50 Million Share Purchase Warrant Award

  • If you purchased shares of Howard Hughes Corp (NYSE:HHC), you have certain options and you should contact the Shareholders Foundation, Inc.

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Lawsuit Overview

Company
Howard Hughes Corp
Security
NYSE: HHC

Case Name
Howard Hughes Derivative Lawsuit 05/01/2017
Type of Lawsuit
Stockholder Derivative Action
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Summary

May 1, 2017 (Shareholders Foundation) - An investor in shares of Howard Hughes Corp (NYSE:HHC) filed a lawsuit over the CEO’s $50 million share purchase warrant award.
The plaintiff alleges that investors in NYSE:HHC shares were left in the dark about the CEO’s share purchase warrant award of 2.5 million shares that was granted by the board of directors of Howard Hughes Corp.

The plaintiff says that the CEO would generally pay a $20-per-share right to buy 2.5 million shares during a one-year period that begins five years after the award of the warrants.

Shares of Howard Hughes Corp (NYSE:HHC) grew from $85.03 per share in February 2016 to as high as $122.27 per share on April 18, 2017.

Howard Hughes Corp reported that its annual Total Revenue rose from $797.09 million in 2015 to over $1.03 billion in 2016 and that its Net Income increased from $126.72 million in 2015 to $202.30 million in 2016.