Faruqi & Faruqi, LLP explores claims on behalf of the investors of innovative industrial real estate investing.com

Faruqi & Faruqi, LLP partner in disputes for securities James (Josh) Wilson Encourages investors who have suffered losses in Innovative industrial ownership (Nyse 🙂 to contact him directly to talk about their capabilities

If you bought or acquired securities in Innovative industrial ownership Between February 27, 2024 and December 19, 2024 and want to talk about your legal rights, call Faruqi & Faruqi partner Josh Wilson directly on 877-247-4292 or 212-983-9330 (LOK. 1310).

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New York, New York – (Newsfile Corp. – January 25, 2025) – Faruqi & Faruqi, LLP, a leading national legal papers, investigates potential lawsuits against Innovativa Industrial Properties, Inc. (“IPR” or “Company” “) (NYSE: IPR) and reminds investors of The deadline is March 18, 2025 seek the role of a leading prosecutor in a federal collective lawsuit against securities that was filed against society.

Faruqi & Faruqi is a leading national legal papers with offices in New York, Pennsylvania, California and Georgia. The company has regained hundreds of millions of dollars for investors since its inception in 1995. See www.faruqilaw.com.

As stated in detail below, the complaint states that the company and its executives have violated the Federal Laws of Securities by giving false and/or deceiving statements and/or non -acquisition of the following: (1) IPRA has experienced a significant decline in rent and compensation for property management in connection with certain tenants of customers; (2) The above would probably diminish the ability of society to maintain FFO and growth growth; (3), accordingly, the jobs of leasing IPr were less profitable than the society represented investors; and (4) As a result, the public statements of society were materially false and deceived in all relevant times.

On November 6, 2024. USD in the same period 2023. IPR also reported a $ 76.5 million revenue, which is not a consensitive estimate of $ 77.5 million and drops with $ 77.8 million in the same period 2023. The previous year the consequence of a contractual rent and a property management fee of $ 3.0 million in the third quarter regarding the real estate that IPR returned to possession of June 2023; A drop of $ 1.3 million due to the rented rent, but which is not recognized in rental revenues, which is the result of a re -classification of two rental types of sales starting from January 1, 2024; and $ 1.3 million in contractual rents and property management fees that have not been charged during the current quarter.

Following this news, the price of the IPR section fell by $ 12.93 per share, or 10.51%, at $ 110.07 per section 7 November 2024.

Then on December 20, 2024, IPR announced that the previous day Pharmacann Inc. (“Pharmacann”), a lease for eleven real estate that IPR possesses – and revenues of which 17% of IPR’s total revenue from the lease in three and nine months ended on September 30, 2024 – did not make their obligations to pay the rent for the month December, according to six of his eleven lease contracts (“Leases”), for real estate in Illinois, Massachusetts, Michigan, New York, Ohi and Pennsylvania. December rent, including basic rent, asset management fees and estimated tax and insurance payment, amounted to $ 4.2 million for these six real estate. Furthermore, IPr stated that he had applied the security deposits he had held on IPR in accordance with these lease contracts in full unpaid rent, with defaults and interest. In the end, the company revealed that “although Pharmacann paid the rent in full according to the remaining five lease contracts in the total amount of $ 90,000 for the month of December, as a result of the provisions on mutual failure to fulfill the obligations contained in each of the rental contracts, December 19, 2024 . Pharmacann also did not fulfill his obligations to these five lease contracts, as a result of the lease of lease for the other six leaks. “

Following this news, the price of the IPR section fell by $ 21.68 per share, or 22.73%, at the closure to $ 73.66 per section on December 20, 2024.

The prosecutor appointed by the court is an investor with the greatest financial interest in the relief sought by the class, which is adequate and typical of the members of the class that directs and monitors the litigation on behalf of the assumed class. Any member of the assumed class may propose to the court to serve as the prosecutor through a lawyer of his own choice or may decide not to do anything and remain absent a member of the class. Your ability to participate in any refund is not influenced by the decision whether to be the prosecutor or not.

Faruqi & Faruqi, LLP also encourages anyone who has information on the behavior of Innovativa Industrial Properties to contact the company, including whistleblowers, former employees, shareholders and others.

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Advertising lawyers. The law firm responsible for this ad is Faruqi & Faruqi, LLP (www.faruqilaw.com). Previous results do not guarantee or foresee a similar outcome with respect to any future question. We welcome the opportunity to talk about your specific case. All communication will be treated in a confidential way.

For an overview of the original version of this press release, visit https://www.newsfilecorp.com/release/238346