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Innovative Industrial Properties, Inc.


A securities class action has been filed against Innovative Industrial Properties, Inc. (IIPR) on behalf of purchasers of the securities of Innovative Industrial Properties between May 7, 2020 through April 13, 2022.  This case has been filed in the USDC – NJ.

According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose: (1) that Innovative Industrial Properties’ focus is to be a cannabis company lender rather than a real estate investment trust (REIT); (2) that the true values of Innovative Industrial Properties’ properties are significantly lower than Innovative Industrial Properties represents; (3) existential issues in its top customers; (4) that as a result, its top customers may not be able to continue making payments to Innovative Industrial Properties and Innovative Industrial Properties would face significant issues replacing these customers; and (5) that as a result, defendants’ statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

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Securities