Company Overview - Lineage, Inc. is a Maryland-based Real Estate Investment Trust (REIT) focused on temperature-controlled cold-storage facilities [3] - The company conducted its initial public offering (IPO) in July 2024, selling over 65 million shares at $78 per share, raising more than $5 billion in gross proceeds [3] Legal Allegations - A class action lawsuit has been filed against Lineage and certain executives, directors, IPO underwriters, and sponsors, alleging violations of the Securities Act of 1933 [1][4] - The lawsuit claims that the registration statement was misleading, failing to disclose significant issues such as weakening customer demand, price increases that could not be sustained, and stagnant or falling revenue and occupancy rates [4] Financial Performance - Since the IPO, Lineage's stock price has dropped to around $40 per share, significantly below the IPO price [5] - The lawsuit alleges that instead of stable revenue growth and high occupancy rates, Lineage has been experiencing stagnant or declining financial metrics [4] Class Action Process - Investors who purchased Lineage common stock in connection with the IPO can seek appointment as lead plaintiff in the class action lawsuit [6] - The lead plaintiff will represent the interests of all class members and can select a law firm of their choice for litigation [6]
LINEAGE INVESTOR NOTICE: Investor Files Class Action Lawsuit Against Lineage, Inc. and Attorneys Announce Opportunity for Investors with Substantial Losses to Lead Securities Class Action Lawsuit - LINE