SAN DIEGO, June 18, 2022 (GLOBE NEWSWIRE) — Robbins Geller Rudman & Dowd LLP announces that purchasers or acquirers of Innovative Industrial Properties, Inc. IIPR IIPR-PA))) securities between May 7, 2020 and April 13, 2022, inclusive (the “Class Period”) have until this Friday, June 24, 2022 to seek appointment as lead plaintiff in Mallozzi v. Innovative Industrial Properties, Inc., No. 22-cv-02359. The Innovative Industrial Properties class action lawsuit charges Innovative Industrial Properties and certain of its top executive officers with violations of the Securities Exchange Act of 1934.
If you suffered substantial losses and wish to serve as lead plaintiff, please provide your information here:
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You can also contact attorney J.C. Sanchez of Robbins Geller by calling 800/449-4900 or via e-mail at [email protected].
CASE ALLEGATIONS: Innovative Industrial Properties purports to be an internally managed real estate investment trust (“REIT”) focused on the acquisition, ownership, and management of specialized industrial properties leased to experienced, state-licensed operators for their regulated state-licensed cannabis facilities.
The Innovative Industrial Properties class action lawsuit alleges that, throughout the Class Period, defendants made false and misleading statements and failed to disclose: (i) that Innovative Industrial Properties’ focus is to be a cannabis company lender rather than a REIT; (ii) that the true values of Innovative Industrial Properties’ properties are significantly lower than Innovative Industrial Properties represents; (iii) existential issues in its top customers; (iv) that, as a result, Innovative Industrial Properties’ 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 (v) that consequently, defendants’ statements about Innovative Industrial Properties’ business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
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THE LEAD PLAINTIFF PROCESS: The Private Securities Litigation Reform Act of 1995 permits any investor who purchased or acquirers Innovative Industrial Properties securities during the Class Period to seek appointment as lead plaintiff. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class.
ABOUT ROBBINS GELLER: Robbins Geller is ranked #1 on the 2021 ISS Securities Class Action Services Top 50 Report for recovering nearly $2 billion for investors last year alone – more than triple the amount recovered by any other plaintiffs’ firm. With 200 lawyers in 9 offices, Robbins Geller is one of the largest plaintiffs’ firms in the world, and the Firm’s attorneys have obtained many of the largest securities class action recoveries in history, including the largest securities class action recovery ever – $7.2 billion – in In re Enron Corp. Sec. Litig. Please visit the following page for more information:
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Contact:
Robbins Geller Rudman & Dowd LLP
655 W. Broadway, San Diego, CA 92101
J.C. Sanchez, 800-449-4900
[email protected]