Important Information for Investors of Innovative Industrial Properties, Inc. (IIPR)
New York, NY – Rosen Law Firm, a leading global investor rights law firm, alerts investors of Innovative Industrial Properties, Inc. (IIPR) regarding a potential securities class action lawsuit. The lawsuit is on behalf of purchasers of IIPR securities between February 27, 2024, and December 19, 2024, both dates inclusive (the “Class Period”).
Background
Innovative Industrial Properties, Inc. is a real estate company that specializes in the acquisition, ownership, and management of specialized industrial properties leased to experienced, licensed operators in the regulated cannabis industry. The Company’s properties are located in various states, including Arizona, California, Florida, Illinois, Maryland, Massachusetts, Michigan, Minnesota, New Jersey, New York, Ohio, Pennsylvania, and Virginia.
Allegations
The complaint alleges that during the Class Period, the defendants made false and/or misleading statements and/or failed to disclose: (1) that IIPR’s business model was unsustainable due to the significant regulatory and operational risks associated with the cannabis industry, which put the Company’s revenue growth and profitability at risk; (2) that IIPR’s reported financial results included significant non-cash items that obscured the Company’s true financial performance; and (3) that as a result of the foregoing, the Company’s public statements were materially false and misleading at all relevant times.
Lead Plaintiff Deadline
If you purchased IIPR securities during the Class Period, you may be entitled to compensation without payment of any out-of-pocket fees or costs through contingency fee arrangement. The deadline to request appointment as lead plaintiff is March 18, 2025. If you wish to serve as lead plaintiff, you must move the Court no later than March 18, 2025.
Effect on Individual Investors
If you purchased IIPR securities during the Class Period, this lawsuit may entitle you to compensation. The lead plaintiff will act on behalf of all Class Members in managing the litigation and negotiating a settlement. You may also receive updates regarding the progress of the litigation.
Effect on the World
This lawsuit may have significant implications for the cannabis industry, as it highlights the regulatory and operational risks associated with investing in companies that operate in this industry. The outcome of the lawsuit could impact the way these risks are perceived by investors and potentially lead to changes in the way these companies report their financial results.
Conclusion
Rosen Law Firm encourages investors to carefully monitor the developments in this case. If you purchased IIPR securities during the Class Period and wish to discuss your legal options, please contact the firm at 866-767-3653 or [email protected] for more information.
- Rosen Law Firm alerts investors of Innovative Industrial Properties, Inc. (IIPR) regarding a potential securities class action lawsuit.
- The lawsuit is on behalf of purchasers of IIPR securities between February 27, 2024, and December 19, 2024, both dates inclusive (the “Class Period”).
- The complaint alleges that defendants made false and/or misleading statements and/or failed to disclose material information.
- Lead plaintiff deadline is March 18, 2025.
- Individual investors may be entitled to compensation without payment of any out-of-pocket fees or costs.
- The lawsuit may have significant implications for the cannabis industry and the way these companies report their financial results.
