Important Notice for Innovative Industrial Properties, Inc. (IIPR) Shareholders
The Gross Law Firm, a leading national shareholder rights law firm, notifies investors of a potential securities class action lawsuit against Innovative Industrial Properties, Inc. (IIPR).
Background
IIPR is a real estate investment trust (REIT) that focuses on the acquisition, ownership, and management of specialized industrial properties leased to experienced, regulated medical-use marijuana operators. The company is headquartered in New York and trades on the New York Stock Exchange under the ticker symbol “IIPR.”
Class Period and Eligibility
The proposed class period for this action is from October 29, 2020 to December 16, 2021. Shareholders who purchased or otherwise acquired IIPR securities during this period are encouraged to contact the firm regarding potential lead plaintiff appointment.
Allegations
The complaint alleges that the defendants made materially false and misleading statements regarding the company’s business, operational, and financial metrics. Specifically, the complaint alleges that IIPR misrepresented the following:
- The financial condition of certain of its tenants
- The level of occupancy at its properties
- The financial impact of the COVID-19 pandemic on its business
Possible Effects on Shareholders
As a result of these alleged false statements, IIPR securities traded at artificially inflated prices during the class period. When the truth was revealed, the price of IIPR securities dropped significantly, causing harm to investors.
Potential Impact on the World
The potential impact of this lawsuit on the world at large may depend on the outcome of the case. If the allegations are proven true, it could lead to increased scrutiny and regulation of the cannabis industry, particularly in relation to publicly traded companies. It could also potentially impact investor confidence in the REIT sector.
Contact The Gross Law Firm
If you wish to serve as a lead plaintiff in this action, you must meet certain legal requirements. To be eligible, you must be a shareholder who purchased or otherwise acquired IIPR securities during the class period and suffered a loss. You may, however, retain The Gross Law Firm even if you do not intend to serve as a lead plaintiff.
If you believe you may be eligible to participate in this class action lawsuit, please contact The Gross Law Firm as soon as possible at (888) 222-0075, or email [email protected], for more information.
Conclusion
Shareholders of Innovative Industrial Properties, Inc. (IIPR) who purchased or otherwise acquired IIPR securities during the proposed class period are encouraged to contact The Gross Law Firm regarding potential lead plaintiff appointment in a securities class action lawsuit. The complaint alleges that the defendants made materially false and misleading statements regarding the company’s business, operational, and financial metrics. If the allegations are proven true, it could lead to increased scrutiny and regulation of the cannabis industry and potentially impact investor confidence in the REIT sector.
If you believe you may be eligible to participate in this class action lawsuit, please contact The Gross Law Firm as soon as possible at (888) 222-0075, or email [email protected], for more information.
