Innovative Industrial Properties, Inc. Class Action Lawsuit

Company Name:         Innovative Industrial Properties, Inc.

Stock Symbol:             IIPR

Class Period:                May 7, 2020 to April 13, 2022

Motion Deadline:         June 24, 2022

​Court:                             District of New Jersey

Press Release:                Innovative Industrial Properties, Inc. Class Action Lawsuit Press Release 

Investor Who Suffered Losses in Innovative Industrial Properties Stock Files Innovative Industrial Properties Class Action Lawsuit

If you suffered losses in Innovative Industrial Properties stock, contact an Innovative Industrial Properties Lawyer about the Innovative Industrial Properties class action lawsuit

The Innovative Industrial Properties class action lawsuit seeks to represent purchasers of Innovative Industrial Properties, Inc. (NYSE: IIPR) securities between May 7, 2020 and April 13, 2022, inclusive (the “Class Period”).  Commenced on April 25, 2022, the Innovative Industrial Properties class action lawsuit – captioned Mallozzi v. Innovative Industrial Properties, Inc., No. 22-cv-02359 (D.N.J.) – charges Innovative Industrial Properties and certain of its top executive officers with violations of the Securities Exchange Act of 1934.

​If you suffered losses in Innovative Industrial Properties stock and wish to serve as lead plaintiff of the Innovative Industrial Properties class action lawsuit, please provide your information below in the contacr form.  You can also contact Innovative Industrial Properties Lawyer Timothy L. Miles by calling 855/846-6529 or via e-mail at tmiles@timmileslaw.com.  If you suffered losses in Innovative Industrial Properties stock, contact Innovative Industrial Properties Lawyer Timothy L. Miles today about the Industrial Properties class action lawsuit .

---

Allegations in the Innovative Industrial Properties Class Action Lawsuit

Call an Innovative Industrial Properties Lawyer Today About an Innovative Industrial Properties Class Action Lawsuit

Innovative Industrial Properties purports to be an internally managed real estate investment trust (“REIT”) focused on the acquisition, ownership, and management of specialized industrial properties leased to experienced, state-licensed operators for their regulated state-licensed cannabis facilities.

The Innovative Industrial Properties class action lawsuit alleges that, throughout the Class Period, defendants made false and misleading statements and failed to disclose: (i) that Innovative Industrial Properties’ focus is to be a cannabis company lender rather than a REIT; (ii) that the true values of Innovative Industrial Properties’ properties are significantly lower than Innovative Industrial Properties represents; (iii) existential issues in its top customers; (iv) that, as a result, Innovative Industrial Properties’ 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 (v) that consequently, defendants’ statements about Innovative Industrial Properties’ business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.

​On April 14, 2022, market researcher Blue Orca Capital released a report on Innovative Industrial Properties, which described Innovative Industrial Properties, in summary, as “a marijuana bank masquerading as a REIT.  [Innovative Industrial Properties’] model is to conduct sale-leaseback transactions with cannabis producers who are otherwise prohibited from borrowing money because of federal regulations.”  The report, for example, stated the following: (i) regarding Innovative Industrial Properties’ true business focus of a cannabis company lender: “[i]n exchange for overpaying for properties from cannabis companies and funding the tenant improvements to build out the facilities, [Innovative Industrial Properties] receives repayment of the loan in the form of long-term lease agreements at 11–14% yields.  In effect, [Innovative Industrial Properties] is less of a traditional REIT, and more of a marijuana bank, lending to cannabis companies who otherwise would not have access to the banking system to grow their businesses”; (ii) regarding the true value of Innovative Industrial Properties’ properties: “the market value of the properties appears to be substantially lower than they are carried at on [Innovative Industrial Properties’] balance sheet.  This is because [Innovative Industrial Properties], by design, executes the sale-leaseback transaction with cannabis companies at above market prices to in effect loan money to its tenants who otherwise cannot borrow from the banking system”; and (iii) regarding Innovative Industrial Properties’ existential issues in its customers: Innovative Industrial Properties’ “Largest Tenant in Default on Debt and Accused of Being Ponzi Scheme in March 2022 Investor Lawsuits,” Innovative Industrial Properties’ “Second Largest Tenant Accused of Fraud in Lawsuit between Founders,” and Innovative Industrial Properties’ “Listed Tenants Struggling with Falling Share Prices (-46%) and worsening cash flows.”  On this news, Innovative Industrial Properties’ share price fell by more than 7.5%, damaging investors as they suffered losses in Innovative Industrial Properties stock​.  If you suffered losses in Innovative Industrial Properties stock, and would like additional information on the Innovative Industrial Properties, Inc. Class Action Lawsuit,​contact Innovative Industrial Properties Lawyer Timothy L. Miles today.

---

The Lead Plaintiff Process

If you suffered losses in Innovative Industrial Properties stock and have lead plaintiff questions, call Innovative Industrial Properties Lawyer Timothy L. Miles

​​The Private Securities Litigation Reform Act of 1995 permits any investor who purchaserd Innovative Industrial Properties, Inc.  securities between May 7, 2020 and April 13, 2022, who suffered losses in Innovative Industrial Properties stock, to seek appointment as lead plaintiff in the Innovative Industrial Properties class action lawsuit.  A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class.  A lead plaintiff acts on behalf of all other class members in directing the class action lawsuit.  The lead plaintiff can select a law firm of its choice to litigate the class action lawsuit.  An investor’s ability to share in any potential future recovery of the class action lawsuit is not dependent upon serving as lead plaintiff.  If you suffered losses in Innovative Industrial Properties stock, and have further questions about the Innovative Industrial Properties Class Action Lawsuit, contact Innovative Industrial Properties Lawyer Timothy L. Miles today.

---

How Can an Innovative Industrial Properties Lawyer Help Me?

​An Innovative Industrial Properties Lawyer is well-versed in the complex laws that govern the securities industry and litigation.  An Innovative Industrial Properties Lawyer  focuses on representing individual investors or funds who have been the victims of fraud or who have disputes with investment professionals.  Ordinary individual investors, including civil servants, teachers, nurses, and retirees, may need a securities lawyer. In most cases, if they have lost money due to mistakes, incompetence, or fraud by an investment professional.  While FINRA, the SEC, and state securities regulators serve a vital role in protecting investors, they simply have too many individuals, firms, and market transactions to monitor to discovery every act of fraud or negligence. Individual investors should consult with a securities lawyer if they have lost money due to fraud or stockbroker misconduct, such as a Innovative Industrial Properties Lawyer who will work to recover the losses you sustained.

Contact a Innovative Industrial Properties Lawyer Today ​If You Suffered Losses in Innovative Industrial Properties stock

​If you suffered losses in Innovative Industrial Properties stock, contact Innovative Industrial Properties Lawyer Timothy  L. Miles today about a Innovative Industrial Properties, Inc. Class Action Lawsuit​, and see what a ​Innovative Industrial Properties Lawyer can do for you.

ATTENTION: INNOVATIVE INDUSTRIAL PROPERTIES CLASS ACTION LAWSUIT
If you suffered losses in Innovative Industrial Properties stock call an Innovative Industrial Properties Lawyer​
​for free about a Innovative Industrial Properties ​class action lawsuit Today. We are here to help!

Innovative Industrial Properties Lawyer​
 (855) Tim-MLaw (855-846-6529)
​tmiles@timmileslaw.com 
If you suffered losses in Innovative Industrial Properties stock, call us today to see if your eligible for the Innovative Industrial Properties Class Action Lawsuit.

FREE CASE EVALUATION
Call today for a free, no obligation case evaluation with an Innovative Industrial Properties Lawyer if you suffered losses in Innovative Industrial Properties stock.