Simon Property Settles Antitrust Investigation in New York

Simon Property Group agreed to pay the State of New York $945,000.
By Tony Owusu ,

Simon Property Group Inc. (SPG) - Get Report reached a settlement with New York State in antitrust litigation that claimed the retail mall owner participated in practices that unfairly protected the property giant's Woodbury Common Premium Outlets from competition. 

Simon Property Group agreed to pay the state $945,000 and revise existing leases that deterred retailers from opening additional outlet stores, the Wall Street Journal reported. 

Simon Property Group did not admit or deny any wrongdoing in the case, according to a statement from its lawyers. 

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