LOS ANGELES–(BUSINESS WIRE)–The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Innovative Industrial Properties, Inc. (“Innovative Industrial Properties” or “the Company”) (NYSE: IIPR) for violations of the securities laws.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Innovative Industrial Properties is the subject of a research report issued by Blue Orca Capital on April 14, 2022. The report alleges that the Company is “a marijuana bank masquerading as a REIT,” adding that “IIPR is less of a traditional REIT, and more of a marijuana bank, lending to cannabis companies who otherwise would not have access to the banking system to grow their businesses.” The report also claims: “IIPR’s largest tenant is a failed SPAC that appears in severe financial distress and was recently sued by investors accusing it of securities fraud and being in effect a Ponzi scheme.” Based on this news, shares of Innovative Industrial Properties fell 7.5% on the same day.
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We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm’s…
