SAN DIEGO — Legal firm Johnson Fistel, LLP has initiated a class action lawsuit against Innovative Industrial Properties, Inc. (IIPR) representing investors who claim to have suffered financial losses due to the company’s alleged misleading statements and omissions. The lawsuit applies to securities acquired between February 27, 2024, and December 19, 2024. Affected investors are encouraged to seek lead plaintiff status by March 18, 2025.
The claim centers on accusations that throughout the specified period, Innovative Industrial Properties issued deceptive statements about its financial health and business operations. Specifically, the lawsuit alleges that the company did not fully disclose substantial declines in rent and property-management fees tied to certain customer leases, which potentially impacted their ability to sustain revenue growth and funds from operations.
This purported misrepresentation led to profitability figures that were inflated compared to the actual financial situation of the business, according to the complaint filed in court. These alleged inaccuracies have sparked concerns about the transparency and reliability of IIPR’s financial disclosures during the class period.
Johnson Fistel, LLP, renowned for its focus on shareholder rights and securities class action lawsuits, is spearheading the legal battle. The firm has a history of representing both individual and institutional investors in securing their rights against potential corporate malfeasance. Investors from abroad who have transacted on U.S. exchanges can also seek representation from the firm.
Investors who experienced significant losses during the specified period have an opportunity to play a pivotal role in the class action lawsuit as a lead plaintiff. This role is crucial as it involves overseeing the litigation on behalf of all class members and selecting legal representation for the collective benefit. It is important for investors to know that their eligibility to recover any financial compensation is not contingent upon their status as lead plaintiff.
The legal notice further specified that Johnson Fistel, LLP has funded the dissemination of the promotional content concerning this lawsuit. Additionally, attorney Frank J. Johnson is designated as responsible for the communication’s content.
For more insights into their services and ongoing legal pursuits, interested parties can find more information on Johnson Fistel, LLP through their official website.
Attorney advertising has stipulated that past results achieved by the firm do not guarantee future outcomes, also indicating that services could be rendered from any of its offices across multiple states including California, New York, Georgia, and Colorado.
For individuals desiring further information or wishing to discuss this class action, contacts have been provided for James Baker, Investor Relations, and Frank J. Johnson at Johnson Fistel’s headquarters in San Diego.
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