NEW YORK — Levi & Korsinsky, LLP, a renowned legal firm, has announced a class action securities lawsuit on behalf of shareholders of Innovative Industrial Properties, Inc. (IIPR). The lawsuit pertains to individuals who invested in the company and may have experienced financial losses due to purported securities fraud during a specified period last year.
The lawsuit targets claims that were made between February 27, 2024, and December 19, 2024, alleging that Innovative Industrial Properties failed to disclose material adverse facts about its business operations, specifically in its leasing operations. The legal complaint accuses the company of concealing significant downturns in rent and property-management fees, which were critical to the company’s revenue generation and operational profitability.
According to the filed suit, the omissions and misleading statements by IIPR adversely affected its ability to maintain consistent funds from operations and impeded revenue growth. The complaint suggests that these discrepancies rendered the company’s public statements about its financial status and operational success misleading.
Investors who believe they have suffered losses due to these misrepresentations have until March 18, 2025, to petition the court for appointment as lead plaintiff in the lawsuit. It is important to note that potential compensation is available to class members regardless of whether they are appointed as lead plaintiffs.
Participation in this lawsuit does not require shareholders to incur out-of-pocket costs or fees, providing a no-cost opportunity for affected investors to seek recovery.
Levi & Korsinsky stands as a prominent figure in securities litigation, with an extensive history of representing investors in complex legal battles. Over the past two decades, the firm has secured several hundred million dollars in settlements for shareholders. Recognized for its achievements, Levi & Korsinsky has been listed among the top U.S. securities litigation firms in the ISS Securities Class Action Services’ Top 50 Report for seven consecutive years.
For further information or to take action regarding this lawsuit, shareholders may contact Joseph E. Levi, Esq. through email at [email protected] or by calling their New York office. Additional details, including contact information and claim procedures, are available on the Levi & Korsinsky website.
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