1. IIPR faces class action for misleading statements during 2024. 2. Allegations include significant declines in rent and fees impacting profitability. 3. Shareholders can seek lead plaintiff appointment by March 18, 2025. 4. Potential recovery for investors harmed by false statements.
The allegations of misleading statements can severely damage investor confidence, similar to previous lawsuits that caused stock drops.
The class action lawsuit directly targets IIPR's integrity, impacting stock prices and investor trust.
Immediate legal issues could influence stock price volatility but may stabilize long-term.
NEW YORK, Jan. 30, 2025 /PRNewswire/ -- The Gross Law Firm issues the following notice to shareholders of Innovative Industrial Properties, Inc. (NYSE: IIPR).
Shareholders who purchased shares of IIPR during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointment. Appointment as lead plaintiff is not required to partake in any recovery.
February 27, 2024 to December 19, 2024
The complaint alleges that during the class period, Defendants issued materially false and/or misleading statements and/or failed to disclose that: (i) IIPR was experiencing significant declines in rent and property-management fees in connection with certain customer leases; (ii) the foregoing would likely impair the Company's ability to maintain funds from operations and revenue growth; (iii) accordingly, IIPR's leasing operations were less profitable than the Company had represented to investors; and (iv) as a result, the Company's public statements were materially false and misleading at all relevant times.
March 18, 2025. Shareholders should not delay in registering for this class action. Register your information here: https://securitiesclasslaw.com/securities/innovative-industrial-properties-inc-loss-submission-form-2/?id=125760&from=4
Once you register as a shareholder who purchased shares of IIPR during the timeframe listed above, you will be enrolled in a portfolio monitoring software to provide you with status updates throughout the lifecycle of the case. The deadline to seek to be a lead plaintiff is March 18, 2025. There is no cost or obligation to you to participate in this case.
The Gross Law Firm is a nationally recognized class action law firm, and our mission is to protect the rights of all investors who have suffered as a result of deceit, fraud, and illegal business practices. The Gross Law Firm is committed to ensuring that companies adhere to responsible business practices and engage in good corporate citizenship. The firm seeks recovery on behalf of investors who incurred losses when false and/or misleading statements or the omission of material information by a company lead to artificial inflation of the company's stock. Attorney advertising. Prior results do not guarantee similar outcomes.
The Gross Law Firm
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New York, NY, 10018
Email: info@grosslawfirm.com
Phone: (646) 453-8903
SOURCE The Gross Law Firm