Robbins LLP is Investigating Allegations that Innovative Industrial properties, Inc. (IIPR) Misled Investors Regarding its Business Prospects

Robbins LLP informs investors that a class action was filed on behalf of all persons and entities that purchased or otherwise acquired Innovative Industrial Properties, Inc. (NYSE: IIPR) securities between February 27, 2024 and December 19, 2024. IIPR is an internally managed real estate investment trust (“REIT”) purportedly focused on the acquisition, ownership, and management of specialized properties leased to state-licensed operators for their regulated medical-use cannabis facilities.

The Allegations:

According to the complaint, during the class period, defendants made false and/or misleading statements and/or failed to disclose that: (i) IIPR was experiencing significant declines in rent and property-management fees in connection with certain customer leases; (ii) the foregoing would likely impair the Company’s ability to maintain FFO and revenue growth; (iii) accordingly, IIPR’s leasing operations were less profitable than the Company had represented to investors; and (iv) as a result, the Company’s public statements were materially false and misleading at all relevant times. When the truth was revealed, the price of IIPR's stock declined significantly harming investors.

What Now: You may be eligible to participate in the class action against Innovative Industrial Properties, Inc. Shareholders who want to serve as lead plaintiff for the class should contact Robbins LLP for information. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation.  You do not have to participate in the case to be eligible for a recovery. If you choose to take no action, you can remain an absent class member.

All representation is on a contingency fee basis. Shareholders pay no fees or expenses.