NEW
YORK, May 13, 2022 /PRNewswire/
-- Jakubowitz Law announces that a securities fraud class
action lawsuit has commenced on behalf of shareholders of
Innovative Industrial Properties, Inc. (NYSE: IIPR).
To receive updates on the lawsuit, fill out the
form:
https://claimyourloss.com/securities/innovative-industrial-properties-inc-loss-submission-form/?id=27163&from=4
The lawsuit seeks to recover losses for shareholders who
purchased Innovative Industrial Properties between May 7, 2020 and April 13, 2022.
Shareholders interested in acting as a lead plaintiff
representing the class of wronged shareholders have until
June 24, 2022 to petition the
court. Your ability to share in any recovery doesn't require that
you serve as a lead plaintiff.
According to a filed complaint, Innovative Industrial
Properties, Inc. issued materially false and/or misleading
statements and/or failed to disclose that: (1) Innovative
Industrial Properties' focus is to be a cannabis company lender
rather than a REIT; (2) that the true values of the Company's
properties are significantly lower than Innovative Industrial
Properties represents; (3) there are existential issues in its top
customers; (4) as a result, its top customers may not be able to
continue making payments to Innovative Industrial Properties and
the Company would face significant issues replacing these
customers; and (5) 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.
Jakubowitz Law is vigorous in pursuit of justice for
shareholders who have been the victim of securities fraud. Attorney
advertising. Prior results do not guarantee similar outcomes.
CONTACT:
JAKUBOWITZ LAW
1140 Avenue of the Americas
9th Floor
New York, New York 10036
T: (212) 867-4490
F: (212) 537-5887
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SOURCE Jakubowitz Law