NEW YORK–(BUSINESS WIRE)–Attorney Advertising–Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against Innovative Industrial Properties, Inc. (“Innovative Industrial Properties” or “the Company”) (NYSE: IIPR, IIPR-PA) and certain of its officers, on behalf of shareholders who purchased or otherwise acquired Innovative Industrial Properties securities between May 7, 2020 and April 13, 2022 inclusive (the “Class Period”). Such investors are encouraged to join this case by visiting the firm’s site: www.bgandg.com/iipr.
This class action seeks to recover damages against Defendants for alleged violations of the Securities Exchange Act of 1934 (the “Exchange Act”).
The Complaint alleges that throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that: (1) that Innovative Industrial Properties’ focus is to be a cannabis company lender rather than a real estate investment trust (REIT); (2) that the true values of Innovative Industrial Properties’ properties are significantly lower than Innovative Industrial Properties represents; (3) existential issues in its top customers; (4) that as a result, its top customers may not be able to continue making payments to Innovative Industrial Properties and Innovative Industrial Properties would face significant issues replacing these customers; and (5) that 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. When the true details entered the market, the lawsuit claims that investors suffered damages.
A class action lawsuit has already been filed. If you wish to review a copy of the Complaint you can visit the firm’s site: www.bgandg.com/iipr or you may contact Peretz Bronstein, Esq. or his Law Clerk and Client Relations Manager, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in Innovative Industrial Properties you have until June 24, 2022 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
Bronstein, Gewirtz & Grossman, LLC represents investors in securities fraud class actions and shareholder derivative suits. The firm has recovered hundreds of millions of dollars for investors nationwide. Attorney advertising. Prior results do not guarantee similar outcomes.