INNOVATIVE INDUSTRIAL SHAREHOLDER ALERT: CLAIMSFILER REMINDS INVESTORS WITH LOSSES IN EXCESS OF $100,000 of Lead Plaintiff Deadline in Class Action Lawsuit Against Innovative Industrial Properties, Inc. – IIPR

NEW ORLEANS, La., Jan. 22, 2025 (GLOBE NEWSWIRE) — ClaimsFiler, a FREE shareholder information service, reminds investors that they have until March 18, 2025 to file lead plaintiff applications in a securities class action lawsuit against Innovative Industrial Properties, Inc. (NYSE: IIPR), if they purchased the Company’s securities between February 27, 2024 and December 19, 2024, inclusive (the “Class Period”). This action is pending in the United States District Court for the District of Maryland.

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Innovative Industrial investors should visit us at https://claimsfiler.com/cases/nyse-iipr-1/ or call toll-free (844) 367-9658. Lawyers at Kahn Swick & Foti, LLC are available to discuss your legal options.

About the Lawsuit

Innovative Industrial and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.

On December 20, 2024, the Company disclosed that on the previous day, PharmaCann Inc., the Company’s tenant for eleven properties “which represented 17% of IIP’s total rental revenues for the three and nine months ended September 30, 2024…defaulted on its obligations to pay rent for the month of December under six of the eleven Leases, for properties located in Illinois, Massachusetts, Michigan, New York, Ohio and Pennsylvania. December rent, including base rent, property management fees and estimated tax and insurance payments, totaled $4.2 million for these six properties.” On this news, the price of IIPR’s stock fell fell $21.68 per share, or 22.73%, to close at $73.66 per share on December 20, 2024.

The case is Giraudon v. Innovative Industrial Properties, Inc., No. 25-cv-00182.

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ClaimsFiler has a single mission: to serve as the information source to help retail investors recover their share of billions of dollars from securities class action settlements. At ClaimsFiler.com, investors can: (1) register for free to gain access to information and settlement websites for various securities class action cases so they can timely submit their own claims; (2) upload their portfolio transactional data to be notified about relevant securities cases in which they may have a financial interest; and (3) submit inquiries to the Kahn Swick & Foti, LLC law firm for free case evaluations.

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