February 17, 2025
Shareholders are suing Innovative Industrial Properties, a REIT focused on providing real estate to cannabis companies, alleging that the company did not properly disclose tenant rent payment issues to its investors and did not adequately address the risk posed by unpaid rent.
Two separate complaints have been filed against IIPR by individual shareholders, Bloomberg Law reported. They both name the company and individual executives, including Executive Chairman Alan Gold, CEO Paul Smithers and Chief Financial Officer David Smith.
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