Kaplan Fox warns Investors Innovativa Industrial Properties, Inc. (IPR) on a group of securities
New York – January 25, 2025. Innovative industrial ownership (Nyse :), Inc. (Innovativa Industrial Properties or Company) (NYSE: IPR) on behalf of the investors who bought or otherwise acquired securities of industrial ownership between February 27, 2024 and December 19, 2024 (class period).
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If you are an investor in innovative industrial property and have suffered losses, you can click here to contact us. You can also contact Kaplan Fox by sending an email at pmayer@kaplanfox.com or call (646) 315-9003.
Reminder for Deadline: If you are a member of the suggested class, you can move the court no later than March 18, 2025 to be the Chief Prosecutor for the alleged class. If you have losses, we encourage you to contact us to find out more about the main prosecutor’s process.
Innovativa Industrial Properties acts as a real estate investment (Reit) Foundation aimed at acquiring, property and managing specialized real estate rented operators with a state license for their regulated facilities for medical use of cannabis.
On December 20, 2024. Innovatives Industrial Properties issued a statement for the public reporting that Pharmacann Inc., the ram of the eleven real estate that Innovativa Industrial Properties possesses, did not fulfill his obligation to pay the rent for the month of December according to six of the eleven lease contracts, for real estate real estate In Illinois, Massachusetts, Michigan, New York, Ohi and Pennsylvania. In addition, the company stated that renting in December, including the basic rent, the benefits of property management and the estimated taxes and payment of insurance, amounted to $ 4.2 million for these six real estate.
Following this news, the price of the industrial proporties fell by $ 21.68 per share, more than 22%, at $ 73.66 per section on December 20, 2024.
The complaint states that during the teaching period, the defendants made materially false and/or deceitful statements and/or did not disclose that, (i) industrial proporties experience significant declines in rent and benefits to manage property in connection with certain tenants of the customers; (II) The above would probably reduce the ability of society to maintain business funds (FFO) and revenue growth; and (III), accordingly, the jobs of leasing of innovative industrial ownership were less profitable than the society represented investors.
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If you have any questions about this notification, your rights or interests, please contact:
CONTACT:
Pamela A. Mayer
Kaplan Fox & Kilsheimer LLP
Third Avenue 800, 38. Floor
New York, New York 10022
(646) 315-9003
pmayer@kaplanfox.com
Laurence D. King
Kaplan Fox & Kilsheimer LLP
1999 Harrison Street, Apartment 1560
Oakland, California 94612
(415) 772-4704
lking@kaplanfox.com
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