Kaplan Fox Alerts Innovative Industrial Properties, Inc. (IIPR) Investors in Securities Class Action Law

NEW YORK – January 25, 2025 (NEWMEDIAWIRE) – Kaplan Fox & Kilsheimer LLP announces that a lawsuit has been filed against the class. New Industrial Equipment (NYSE:), Inc. (Innovative Industrial Properties or the Company) (NYSE: IIPR) on behalf of investors who purchased or received securities of Industrial Properties between February 27, 2024 and December 19, 2024 (Class Period).

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If you are an Innovative Industrial Properties investor and have lost money, you can CLICK HERE to contact us. You can also contact Kaplan Fox by emailing pmayer@kaplanfox.com or by calling (646) 315-9003.

TIME TO ACT REMINDER: If you are a member of the proposed Class, you may move the court by March 18, 2025 to act as the lead plaintiff in the proposed class. If you have a loss we encourage you to contact us to learn more about the lead plaintiff process.

Innovative Industrial Properties operates as a real estate investment trust (REIT) focused on the acquisition, ownership and management of specialty properties leased to state-licensed operators for their managed services. of medical use.

On December 20, 2024, Innovative Industrial Properties issued a press release reporting that PharmaCann Inc., the tenant of eleven properties owned by Innovative Industrial Properties, had defaulted on its obligations of paying rent for the month of December under six of the eleven leases. Illinois, Massachusetts, Michigan, New York, Ohio and Pennsylvania. Additionally, the Company stated that December rent, including base rent, property management fees and estimated tax and insurance fees, was $4.2 million for these six properties.

In this news, the stock price of Industrial Properties fell by $21.68 in total, more than 22%, to close at $73.66 per share on December 20, 2024.

The Complaint alleges that, throughout the Class Period, the Defendants made false and/or misleading statements and/or failed to disclose that, (i) the Industrial Property experienced a significant decrease in rental rates; and property management in relation to certain customer leases; (ii) the foregoing may impair the Company’s ability to maintain cash flow from operations (FFO) and revenue growth; and (iii) as a result, the lease operations of Innovative Industrial Properties were less profitable than the Company had represented to investors.

WHY JOIN KAPLAN FOX – Kaplan Fox is a leading national law firm focused on complex litigation with offices in New York, Oakland, Los Angeles, Chicago and New Jersey. With more than 50 years of experience in compensation claims, Kaplan Fox provides the professional experience and track record clients seek. By litigating cases at the federal and state levels, Kaplan Fox has successfully shaped the law by winning many landmark decisions on behalf of our clients. For more information about Kaplan Fox & Kilsheimer LLP, you can visit our website at www.kaplanfox.com.

This press release may be considered Attorney Disclosure in other jurisdictions under applicable law and ethics.

If you have any questions about this Notice, your rights, or your interests, please contact:

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Pamela A. Mayer

KAPLAN FOX & KILSHEIMER LLP

800 Third Avenue, 38th floor

New York, New York 10022

(646) 315-9003

pmayer@kaplanfox.com

Laurence D. King

KAPLAN FOX & KILSHEIMER LLP

1999 Harrison Street, Suite 1560

Oakland, California 94612

(415) 772-4704

lking@kaplanfox.com

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