Jakubowitz Law announces that a securities fraud class action lawsuit has commenced on behalf of shareholders of Innovative Industrial Properties, Inc. (NYSE: IIPR).
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The lawsuit seeks to recover losses for shareholders who purchased Innovative Industrial Properties between May 7, 2020 and April 13, 2022.
Shareholders interested in acting as a lead plaintiff representing the class of wronged shareholders have until June 24, 2022 to petition the court. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
According to a filed complaint, Innovative Industrial Properties, Inc. issued materially false and/or misleading statements and/or failed to disclose that: (1) Innovative Industrial Properties’ focus is to be a cannabis company lender rather than a REIT; (2) that the true values of the Company’s properties are significantly lower than Innovative Industrial Properties represents; (3) there are existential issues in its top customers; (4) as a result, its top customers may not be able to continue making payments to Innovative Industrial Properties and the Company would face significant issues replacing these customers; and (5) as a result, defendants’ statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.
Jakubowitz Law is vigorous in pursuit of justice for shareholders who have been the victim of securities fraud. Attorney advertising. Prior results do not guarantee similar outcomes.