The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the United States District Court for the District of New Jersey on behalf of investors who purchased Innovative Industrial Properties, Inc. (NYSE: IIPR) securities between May 7, 2020 and April 13, 2022.
According to the Innovative Industrial Properties lawsuit, throughout the Class Period defendants made 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.
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.
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