Cision PR Newswire
IIPR Investors Have Opportunity to Lead Innovative Industrial Properties, Inc. Securities Fraud Lawsuit
News provided byThe Law Offices of Frank R. Cruz, Los Angeles
Jun 22, 2022, 11:59 PM ET
LOS ANGELES, June 22, 2022 /PRNewswire/ -- The Law Offices of Frank R. Cruz announces that investors with substantial losses have opportunity to lead the securities fraud class action lawsuit against Innovative Industrial Properties, Inc. ("Innovative Industrial Properties" or the "Company") (NYSE: IIPR).
Class Period: May 7, 2020 – April 13, 2022
Lead Plaintiff Deadline: June 24, 2022
If you are a shareholder who suffered a loss, click here to participate.
The complaint filed alleges that, throughout the Class Period, Defendants failed to disclose to investors: (1) that the Company's focus is to be a cannabis company lender rather than a real estate investment trust; (2) that the true values of the Company's 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 the Company, which would face significant issues replacing these customers; and (5) as a result, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.
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To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to firstname.lastname@example.org, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
SOURCE The Law Offices of Frank R. Cruz, Los Angeles