Cision PR Newswire
INNOVATIVE INDUSTRIAL SHAREHOLDER ALERT: CLAIMSFILER Reminds Investors with Losses in Excess of $100,000 of Lead Plaintiff Deadline in Class Action Lawsuit Against Innovative Industrial Properties, Inc. - IIPR, IIPR-PA
News provided byClaimsFiler
May 06, 2022, 10:50 PM ET
NEW ORLEANS, May 6, 2022 /PRNewswire/ -- ClaimsFiler, a FREE shareholder information service, reminds investors that they have until June 24, 2022 to file lead plaintiff applications in a securities class action lawsuit against Innovative Industrial Properties, Inc. (NYSE: IIPR, IIPR-PA), if they purchased the Company's securities between May 7, 2020 and April 13, 2022, inclusive (the "Class Period"). This action is pending in the United States District Court for the District of New Jersey.
Innovative Industrial investors should visit us at https://claimsfiler.com/cases/nyse-iipr/ or call toll-free (844) 367-9658. Lawyers at Kahn Swick & Foti, LLC are available to discuss your legal options.
About the Lawsuit
Innovative Industrial and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
The alleged false and misleading statements and omissions include, but are not limited to, that: (i) the Company's focus is to be a cannabis company lender rather than a real estate investment trust (REIT); (ii) the true values of the Company's properties are significantly lower than represented; (iii) the Company's top customers experienced significant issues; (iv) as a result, its top customers may not be able to continue making payments to the Company and it would face significant issues replacing these customers; and (v) as a result of the foregoing, the Company's financial statements were materially false and misleading at all relevant times.
When the true details entered the market, the price of the Company's shares fell, damaging investors.
The case is Mallozzi v. Innovative Industrial Properties, Inc., et al., No. 22-cv- 2359.
ClaimsFiler has a single mission: to serve as the information source to help retail investors recover their share of billions of dollars from securities class action settlements. At ClaimsFiler.com, investors can: (1) register for free to gain access to information and settlement websites for various securities class action cases so they can timely submit their own claims; (2) upload their portfolio transactional data to be notified about relevant securities cases in which they may have a financial interest; and (3) submit inquiries to the Kahn Swick & Foti, LLC law firm for free case evaluations.
To learn more about ClaimsFiler, visit www.claimsfiler.com.
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