SHAREHOLDER ALERT: Kaskela Law LLC Announces Important Deadline in Class Action Lawsuit Filed Against Farmland Partners Inc. ...
July 16 2018 - 5:00AM
Business Wire
Kaskela Law LLC announces that a shareholder class action
complaint has been filed against Farmland Partners Inc. (NYSE: FPI)
(NYSE: FPI-PB) (“Farmland” or the “Company”) on behalf of certain
investors who purchased the Company’s securities between May 9,
2017 and July 10, 2018, inclusive (the “Class Period”).
IMPORTANT DEADLINE: Investors who purchased Farmland’s
common or preferred stock during the Class Period may, no later than September 10, 2018, seek to
be appointed as a lead plaintiff representative of the investor
class. Farmland investors are encouraged to contact Kaskela Law LLC
(David Seamus Kaskela, Esq.) at (484) 258 – 1585 or (888) 715 –
1740 and/or submit their information online at
http://kaskelalaw.com/case/farmland-partners/.
On July 11, 2018, Rota Fortunae published an online report
alleging that Farmland artificially increased revenues “by making
loans to related-party tenants who round-trip the cash back to FPI
as rent.” The report further detailed that “[w]e found evidence
that strongly supports [Farmland] has significantly overpaid for
properties; under normal circumstances, we estimate [Farmland] is
worth $4.85/share, but we think the shares are un-investible.”
Additionally, the report stated that Farmland has “neglected to
disclose that the majority of its loans have been made to two
members of the management team.” Following this report,
Farmland’s common stock fell $3.37 per share (39%) and its
preferred shares fell $6.08 per share (25%).
The shareholder class action complaint alleges that defendants
made false and misleading statements and/or failed to disclose to
investors that: (i) Farmland artificially increased its revenues by
marking loans to related party tenants and (ii) Farmland’s Class
Period revenues were overstated. The complaint further alleges
that, as a result of the foregoing, investors purchased Farmland’s
securities at artificially inflated prices during the Class Period
and sustained significant investment losses.
Farmland investors are encouraged to contact Kaskela Law LLC
and/or submit their information online at
http://kaskelalaw.com/case/farmland-partners/. Kaskela Law
LLC exclusively represents investors in state and federal courts
throughout the country. For additional information about Kaskela
Law LLC please visit www.kaskelalaw.com.
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KASKELA LAW LLCDavid Seamus Kaskela, Esq.201 King of
Prussia RoadSuite 650Radnor, PA
19087484-258–1585888-715–1740info@kaskelalaw.comwww.kaskelalaw.com
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