Class Action Lawsuit Filed Against IIPR: Key Allegations
On January 17, 2025, a class action lawsuit was filed against Innovative Industrial Properties, Inc. (“IIPR” or the “Company”) (NYSE: IIPR) on behalf of investors who acquired IIPR securities between February 27, 2024, and December 19, 2024 (the “Class Period”).
If you purchased or otherwise acquired IIPR shares during the Class Period, click here to send us a message for more information about the IIPR class action lawsuit.
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To share details about your financial losses or to be contacted by a member of our team, please complete our brief securities questionnaire. Alternatively, you can reach out to Michael Yarnoff, Esq., for a no-obligation evaluation of potential legal claims:
- Email: myarnoff@kehoelawfirm.com or info@kehoelawfirm.com
- Phone: (215) 792-6676, Ext. 804
Class Action Lawsuit Allegations
According to the complaint, the defendants allegedly made materially false and misleading statements about the Company’s business, operations, and financial prospects during the Class Period. Specifically, the complaint alleges the following:
- IIPR was experiencing significant declines in rent and property-management fees associated with certain customer leases.
- These declines would likely impair the Company’s ability to maintain funds from operations (FFO) and revenue growth.
- Consequently, IIPR’s leasing operations were less profitable than the Company had represented to investors.
- As a result, IIPR’s public statements were materially false and misleading throughout the Class Period.
To review the complaint, click IIPR class action complaint.
About Kehoe Law Firm, P.C.
Kehoe Law Firm, P.C., is a multidisciplinary, plaintiff-side class action law firm committed to protecting investors from securities fraud, breaches of fiduciary duties, and corporate misconduct. Collectively, the firm’s partners have served as Lead or Co-Lead Counsel in cases recovering over $10 billion on behalf of institutional and individual investors.
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