According to the lawsuit, throughout the Class Period, defendants made false and misleading statements and/or failed to disclose that:
- IIPR was experiencing significant declines in rent and property-management fees in connection with certain customer leases;
- the foregoing would likely impair IIPR’s ability to maintain funds from operations (“FFO”) and revenue growth;
- accordingly, IIPR’s leasing operations were less profitable than IIPR had represented to investors; and
- as a result, IIPR’s public statements were materially false and misleading at all relevant times.
No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
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