NEW YORK, July 13, 2018 (GLOBE NEWSWIRE) — Attorney Advertising–Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against Farmland Partners Inc. (“Farmland” or the “Company”) (NYSE:FPI) and certain of its officers, on behalf of shareholders who purchased or otherwise acquired Farmland securities between May 9, 2017, to July 10, 2018, both dates inclusive (the “Class Period”). Such investors are encouraged to join this case by visiting the firm’s site: www.bgandg.com/fpi.
This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934.
The Complaint alleges that Defendants made materially false and/or misleading statements and/or failed to disclose that: (1) Farmland artificially increased its revenues by making loans to related party tenants; (2) as a result of the foregoing, Farmland’s Class Period revenues were overstated; and (3) consequently, Farmland’s public statements were materially false and misleading at all relevant times.
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.” Following this news, Farmland stock dropped $3.37 per share, or 38.96%, to close at $5.28 on July 11, 2018, and the price of Farmland Partners Series B preferred stock fell $6.08 per share, or 24.75%, to close at $18.49 on July 11, 2018.
A class action lawsuit has already been filed. If you wish to review a copy of the Complaint you can visit the firm’s site: www.bgandg.com/fpi or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in Farmland you have until September 10, 2018 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | firstname.lastname@example.org