Important Information for Investors: Securities Class Action Lawsuit Against Innovative Industrial Properties, Inc.
New Orleans, Louisiana – Kahn Swick & Foti, LLC (“KSF”) and its partner, former Attorney General of Louisiana, Charles C. Foti, Jr., are reminding investors that they have until March 18, 2025 to file lead plaintiff applications in a securities class action lawsuit against Innovative Industrial Properties, Inc. (IIPR), if they purchased the Company’s securities between February 27, 2024, and December 19, 2024, inclusive (the “Class Period”). This action is pending in the United States District Court for the District of Maryland.
About the Lawsuit
The complaint alleges that during the Class Period, the defendants made false and/or misleading statements and/or failed to disclose that: (1) IIPR’s financial statements for the fiscal years ended December 31, 2022 and 2023 contained material misstatements and/or omissions; (2) there were material weaknesses in IIPR’s internal control over financial reporting; and (3) as a result, the Company’s financial statements were not accurate and did not fairly reflect the Company’s financial condition.
Impact on Individual Investors
If you purchased IIPR securities during the Class Period, you may be able to recover your losses, including damages. To be eligible to share in the potential recovery of the class action, you must be a purchaser of IIPR securities during the Class Period (or held those securities during the class period and were damaged by the misconduct).
Impact on the World
The securities class action against Innovative Industrial Properties, Inc. is significant as it highlights the importance of accurate financial reporting and internal control over financial reporting. Companies with weak internal controls can mislead investors, resulting in financial losses. This lawsuit serves as a reminder for all publicly traded companies to prioritize transparency and accuracy in their financial reporting.
Conclusion
If you purchased IIPR securities during the Class Period, we encourage you to contact KSF to discuss your potential recovery. You may contact KSF toll-free at 1-877-515-1850 or via email at [email protected] to obtain information about the class action. If you wish to serve as a lead plaintiff in this action, you must file a motion with the Court no later than March 18, 2025. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
The KSF Securities Class Action Group, under the supervision of Mr. Foti, has recovered billions of dollars for investors and is widely recognized as a leading firm in the securities class action industry. KSF has offices in New York, California, Louisiana and Maryland and represents clients throughout the country.
About Kahn Swick & Foti, LLC
Kahn Swick & Foti, LLC (KSF) is a law firm focused on securities, antitrust, and consumer class actions, along with select civil litigation representing individuals, businesses and institutions. The firm’s extensive securities practice is led by partners Charles C. Foti, Jr., Eric D. Thornburg and James Maro. KSF’s litigation activities include representation of over 7,000 institutional and individual investors in securities, antitrust, and consumer class action lawsuits.
To learn more about KSF, you may visit www.ksfcounsel.com.
Contact:
Kahn Swick & Foti, LLC
- 1-877-515-1850
- [email protected]
1100 Poydras St., Suite 3200
New Orleans, LA 70163
# # #
