INNOVATIVE INDUSTRIAL SHAREHOLDER ALERT BY FORMER LOUISIANA ATTORNEY GENERAL: KAHN SWICK & FOTI, LLC REMINDS INVESTORS WITH LOSSES IN EXCESS OF $100,000 of Lead Plaintiff Deadline in Class Action Lawsuit Against Innovative Industrial Properties, Inc. - IIPR, IIPR-PA
NEW ORLEANS, May 27, 2022 /PRNewswire/ -- Kahn Swick & Foti, LLC ("KSF") and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have untilJune 24, 2022 to file lead plaintiff applications in a securities class action lawsuit against Innovative Industrial Properties, Inc. (NYSE: IIPR, IIPR-PA), if they purchased the Company's securities between May 7, 2020 and April 13, 2022, inclusive (the "Class Period"). This action is pending in the United States District Court for the District of New Jersey.
What You May Do
If you purchased securities of Innovative Industrial and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (firstname.lastname@example.org), or visit https://www.ksfcounsel.com/cases/nyse-iipr/ to learn more. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by June 24, 2022.
About the Lawsuit
Innovative Industrial and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
The alleged false and misleading statements and omissions include, but are not limited to, that: (i) the Company's focus is to be a cannabis company lender rather than a real estate investment trust (REIT); (ii) the true values of the Company's properties are significantly lower than represented; (iii) the Company's top customers experienced significant issues; (iv) as a result, its top customers may not be able to continue making payments to the Company and it would face significant issues replacing these customers; and (v) as a result of the foregoing, the Company's financial statements were materially false and misleading at all relevant times.
When the true details entered the market, the price of the Company's shares fell, damaging investors.
The case is Mallozzi v. Innovative Industrial Properties, Inc., et al., No. 22-cv- 2359.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation's premier boutique securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, money managers and retail investors – in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, California, Louisiana and New Jersey.