According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that:
- that Innovative Industrial Properties’ focus is to be a cannabis company lender rather than a real estate investment trust (REIT);
- that the true values of Innovative Industrial Properties’ properties are significantly lower than Innovative Industrial Properties represents;
- existential issues in its top customers;
- that as a result, its 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
- that 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.
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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