Law Offices of Howard G. Smith announces an investigation on behalf of Innovative Industrial Properties, Inc. (“Innovative Industrial Properties” or the “Company”) (NYSE: IIPR) investors concerning the Company’s possible violations of federal securities laws.
On April 14, 2022, before market hours, Blue Orca Capital released a report alleging, among other things, that Innovative Industrial Properties is “a marijuana bank masquerading as a [real estate investment trust (“REIT”)],” and that the Company’s model is “to conduct sale-leaseback transactions with cannabis producers who are otherwise prohibited from borrowing money because of federal regulations.”
On this news, the Company’s stock fell $13.76, or 7.5%, to close at $169.68 per share on April 14, 2022, thereby injuring investors.
If you purchased Innovative Industrial Properties securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.
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View source version on businesswire.com: https://www.businesswire.com/news/home/20220427006014/en/
Contacts
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
888-638-4847
howardsmith@howardsmithlaw.com
www.howardsmithlaw.com
