Innovative Industrial Properties(US:IIPR) Prnewswireยท2025-02-27 10:45Core Viewpoint - The Gross Law Firm has issued a notice to shareholders of Innovative Industrial Properties, Inc. (IIPR) regarding a class action lawsuit due to alleged misleading statements and omissions during a specified class period [1][2]. Summary by Relevant Sections Allegations - The complaint alleges that during the class period from February 27, 2024, to December 19, 2024, IIPR made materially false and misleading statements, failing to disclose significant declines in rent and property-management fees related to certain customer leases [1]. - It is claimed that these issues would likely impair the company's ability to maintain funds from operations and revenue growth [1]. - The leasing operations of IIPR were reportedly less profitable than represented to investors, leading to materially false and misleading public statements [1]. Class Action Details - Shareholders who purchased IIPR shares during the class period are encouraged to register for the class action, with a deadline set for March 18, 2025 [2]. - Once registered, shareholders will be enrolled in a portfolio monitoring software to receive updates throughout the case lifecycle [2]. Law Firm's Mission - The Gross Law Firm is a nationally recognized class action law firm dedicated to protecting the rights of investors who have suffered due to deceit, fraud, and illegal business practices [3]. - The firm aims to ensure companies adhere to responsible business practices and seeks recovery for investors affected by false or misleading statements that led to artificial inflation of stock prices [3].