Innovative Industrial Properties, Inc.

Ticker: IIPR

Class Period Start: 05/07/2020

Class Period End: 04/13/2022

Registration Deadline: 06/24/2022

A securities class action has been filed in the USDC – NJ 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. The lawsuit seeks to recover damages for Innovative Industrial Properties investors under the federal securities laws. 

According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that:

  • that Innovative Industrial Properties’ focus is to be a cannabis company lender rather than a real estate investment trust (REIT);
  • that the true values of Innovative Industrial Properties’ properties are significantly lower than Innovative Industrial Properties represents;
  • existential issues in its top customers;
  • 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
  • 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.


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