Kirby McInerney LLP Announces the Filing of a Securities Class Action Lawsuit Against Farmland Partners Inc. & Certain Officers
2018年7月13日 - 4:16AM
ビジネスワイヤ(英語)
The law firm of Kirby McInerney LLP announced today that a class
action lawsuit has been filed against Farmland Partners Inc.
(“Farmland” or “Company”) (NYSE:FPI) (NYSE:FPI.B) on behalf of
investors that acquired Farmland securities between May 9, 2017 and
July 10, 2018, inclusive (the “Class Period”), seeking recovery of
damages for alleged violations of the federal securities laws.
Investors have until September 10, 2018 to apply to the
Court to be appointed as lead plaintiff in the lawsuit.
The lawsuit alleges that throughout the Class Period, Defendants
made materially false and misleading statements regarding the
Company’s business, operational and compliance policies.
Specifically, Defendants made false and/or misleading statements
and/or failed to disclose that: (i) Farmland Partners artificially
increased its revenues by making loans to related party tenants;
and (ii) as a result of the foregoing, Farmland Partners’ Class
Period revenues were overstated.
On July 11, 2018, Rota Fortunae published an online report
alleging that Farmland artificially increased revenues “by making
loans to related-party tenants who round-trip the cash back to FPI
as rent” and that “30% of [Farmland’s] 2017 earnings could be
made-up.” The report further stated that Farmland “neglected to
disclose that the majority of its loans have been made to two
members of the management team.” On this news, shares of Farmland
fell from $8.65 on July 10, 2018 to $5.28 on July 11, 2018 (a
decline of $3.37, or approximately 39%).
If you acquired shares of Farmland during the Class Period and
would like more information about the lawsuit or about claims that
you may have, you may contact Thomas W. Elrod, Esq. of Kirby
McInerney LLP at (212) 371-6600, or by email at telrod@kmllp.com,
or by filling out the form at the link below to discuss your rights
and options without any cost to you.
Kirby McInerney LLP is a New York-based plaintiffs’ law firm
concentrating in securities, antitrust, and whistleblower
litigation. The firm’s efforts on behalf of shareholders in
securities litigation have resulted in recoveries totaling billions
of dollars. Additional information about the firm can be found at
Kirby McInerney LLP’s website: www.kmllp.com.
This press release may be considered Attorney Advertising in
some jurisdictions under the applicable law and ethical rules.
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version on businesswire.com: https://www.businesswire.com/news/home/20180712005818/en/
Kirby McInerney LLPThomas W. Elrod, Esq., (212)
371-6600www.kmllp.comtelrod@kmllp.com
Farmland Partners (NYSE:FPI)
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Farmland Partners (NYSE:FPI)
過去 株価チャート
から 7 2023 まで 7 2024