Important Information for Investors: Securities Class Action Lawsuit Filed Against Innovative Industrial Properties, Inc.
On March 4, 2025, Kahn Swick & Foti, LLC (“KSF”) and its partner, former Attorney General of Louisiana, Charles C. Foti, Jr., announced that they are reminding investors of the upcoming deadline to file lead plaintiff applications in a securities class action lawsuit against Innovative Industrial Properties, Inc. (IIPR). The lawsuit was filed in the United States District Court for the District of Maryland.
Background of the Lawsuit
The lawsuit alleges that Innovative Industrial Properties, Inc., during the Class Period from February 27, 2024, to December 19, 2024, made materially false and misleading statements regarding the Company’s business, operations, and financial condition.
Impact on Individual Investors
If you purchased IIPR securities during the Class Period, you may be eligible to recover your losses, as a result of the Company’s alleged securities law violations. The lead plaintiff will act on behalf of all other class members in managing the litigation. If a settlement is reached, the lead plaintiff will be entitled to an attorney’s fee of up to 10% of the recovery.
How to Join the Class Action
- To join the class action, you must file a motion for appointment as lead plaintiff. Your request must be filed with the Court no later than March 18, 2025.
- You may ask the Court to appoint you as lead plaintiff by submitting your papers no later than March 18, 2025.
- You need not seek appointment as a lead plaintiff to share in any recovery. If you are a class member, you may obtain certain information and updates from the Court without retaining legal counsel.
Impact on the Business World
Securities class action lawsuits are a significant part of the legal system in the United States. They allow investors to recover losses from companies that have allegedly engaged in securities fraud. The lawsuit against Innovative Industrial Properties, Inc. is just one of many that are filed each year. The outcome of this lawsuit could have implications for the entire securities industry, as it may set a precedent for how similar cases are handled in the future.
Conclusion
If you purchased IIPR securities between February 27, 2024, and December 19, 2024, and believe that you have suffered losses as a result of the Company’s alleged securities law violations, you may be eligible to recover your losses. The deadline to file a lead plaintiff application is March 18, 2025. The outcome of this lawsuit could have implications for the entire securities industry, as it may set a precedent for how similar cases are handled in the future.
For more information about this class action lawsuit, please contact KSF at 1-877-515-1850 or [email protected] The class period for this action is from February 27, 2024 to December 19, 2024. The case is pending in the United States District Court for the District of Maryland.
