Innovative Industrial Properties (IIPR) Shareholders Alert: Deadline Approaching for $100K+ Lossses in Class Action

27 February, 2025 | 2 Min Read

tickers: IIPR

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ticker	polarity	why?
IIPR	positively	The ticker IIPR may be positively affected as the class action lawsuit could potentially lead to a settlement or judgment that provides compensation to shareholders, thereby boosting investor confidence and potentially driving up the stock price. Additionally, the resolution of the lawsuit could mitigate ongoing uncertainty and legal risks associated with the company, making it more attractive to investors.

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Innovative Industrial Shareholders Face March 18 Deadline for Class Action Lawsuit

NEW ORLEANS, Feb. 27, 2025 — ClaimsFiler, a free shareholder information service, has issued a reminder to investors regarding a pending securities class action lawsuit against Innovative Industrial Properties, Inc. (IIPR). The reminder states that anyone who wishes to act as a lead plaintiff must file their application before March 18, 2025. Lead Plaintiff Deadline Investors who purchased IIPR securities between February 27, 2024, and December 19, 2024, are eligible to file a lead plaintiff application in the suit. The case is currently pending in the United States District Court for the District of Maryland. This deadline is critical for investors seeking to lead the class action lawsuit. Allegations and Impact According to the lawsuit, Innovative Industrial and certain of its executives failed to disclose material information during the specified period, breaching federal securities laws. Specifically, the company’s disclosure on December 20, 2024, about PharmaCann Inc., one of its tenants, defaulting on rent payments for several properties, significantly impacted share prices. On December 19, 2024, PharmaCann Inc. defaulted on rent obligations for six properties in Illinois, Massachusetts, Michigan, New York, Ohio, and Pennsylvania. The total rental loss stood at $4.2 million, representing 17% of IIP’s overall rental income. Consequently, the company’s stock price fell from $73.66 per share to $95.34 or 22.73% due to the news. The case, filed as Giraudon v. Innovative Industrial Properties, Inc. (case 25-cv-00182) involves allegations of significant financial losses in the class period. Investors impacted by this situation are encouraged to actuarently contact ClaimsFiler for more information. This free service aims to assist retail investors in recovering assets and obtaining compensation through applicable financial settlements.