Innovative Industrial Properties, Inc. (IIPR) is facing a class action lawsuit (Innovative Industrial Properties Class Action Lawsuit) alleging that the Company made materially false and/or misleading statements and/or failed to disclose that:
(1) Innovative Industrial Properties’ focus is to be a cannabis company lender rather than a REIT; (2) that the true values of the Company’s properties are significantly lower than Innovative Industrial Properties represents; (3) there are existential issues in its top customers; (4) as a result, its top customers may not be able to continue making payments to IIPR and the Company would face significant issues replacing these customers; and (5) as a result, defendants’ statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.
If you incurred a loss on IIPR stocks purchased between May 7, 2020 and April 13, 2022, this lawsuit is on your behalf. The lawsuit was filed in the United States District Court for the District of New Jersey, and our firm is reaching out to investors to discuss their legal rights.
If you wish to act as a representative of the shareholders harmed by this misconduct, you may ask the court to appoint you as lead plaintiff. A lead plaintiff directs the litigation and participates in important decisions, including whether to accept a settlement for the class in the action.
You only have until June 24, 2022 to apply to be lead plaintiff. The court will then evaluate the applicants and choose a lead plaintiff. You are not required to act as a lead plaintiff in order to participate in any recovery.
Innovative Industrial Properties, Inc. Class Action Lawsuit
Innovative Industrial Properties, Inc. Lawsuit
IIPR Class Action Lawsuit
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