Simon Property Group Inc., the biggest U.S. shopping-mall owner, won’t have to face a lawsuit alleging it improperly barred investors from voting on an executive-pay plan that resulted in a $120 million stock award to Chief Executive Officer David Simon.
Simon Property Group Inc., the biggest U.S. owner of shopping malls, told a Delaware judge that an investor lawsuit over executive pay should be thrown out now that the company has rewritten the compensation plan.
Simon Property Group Inc., the world’s largest mall owner, bought a land parcel on New York’s Long Island from rival shopping-center landlord Taubman Centers Inc., which failed to develop the property.
Simon Property Group Inc. named its planned spinoff of strip shopping centers and smaller enclosed malls Washington Prime Group Inc. and hired Mark Ordan to be the new company’s chief executive officer.
Bernard Winograd, a retired Prudential Financial Inc. executive who earlier helped devise the initial public offering for luxury-mall developer Taubman Centers Inc. in 1992, a milestone in the growth of real estate investment trusts, has died. He was 63.