Lineage, Inc.(US:LINE) Globenewswireยท2025-09-22 11:11Core Viewpoint - A lawsuit has been filed against Lineage, Inc. and its senior executives for potential violations of federal securities laws related to its IPO and subsequent financial performance [1][2]. Group 1: Lawsuit Details - The lawsuit is pending in the U.S. District Court for the Eastern District of Michigan, specifically titled City of St. Clair Shores Police and Fire Retirement System v. Lineage, Inc., et al., No. 2:25-cv-12383 [2]. - Investors who purchased stock during Lineage's IPO on July 25, 2024, are represented in the lawsuit, which asserts claims under Sections 11 and 15 of the Securities Act of 1933 [2]. Group 2: Company Overview - Lineage, Inc. operates as a cold storage-focused real estate investment trust (REIT), owning and managing temperature-controlled storage facilities for perishable products [3]. - The company claimed in its IPO documents that it had "consistent cold chain demand," which was expected to provide strong cash flows even during economic downturns [4]. Group 3: Financial Performance and Market Reaction - Following the IPO, Lineage's stock price has significantly declined from an initial price of $78 per share to approximately $40 per share, indicating a drop of nearly 50% [5]. - The company's Q4 2024 financial results revealed that customers were reducing excess inventory, returning to a more typical seasonal pattern, which was anticipated to continue [5].