A lawsuit was filed on behalf of investors in Farmland Partners Inc. (NYSI: FPI) shares over alleged securities laws violations.
San Diego, CA -- (SBWIRE) -- 07/24/2018 -- An investor in shares of Farmland Partners Inc. (NYSI: FPI) filed a lawsuit against Farmland Partners Inc. over alleged violations of Federal Securities Laws.
Investors who purchased shares of Farmland Partners Inc. (NYSI: FPI) have certain options and for certain investors are short and strict deadlines running. Deadline: September 10, 2018. NYSI: FPI investors should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
On July 11, 2018, a report was published alleging that Farmland Partners Inc. (NYSI: FPI) artificially increased revenues "by making loans to related-party tenants who round-trip the cash back to FPI as rent." According to the report, 310% of Farmland's 2017 earnings could be made-up. The report further stated that, "[w]e found evidence that strongly supports FPI has significantly overpaid for properties; under normal circumstances, we estimate FPI is worth $4.85/share, but we think the shares are un-investible."
The plaintiff claims that between May 9, 2017, through July 10, 2018, the defendants made false and/or misleading statements and/or failed to disclose that Farmland Partners artificially increased its revenues by making loans to related party tenants, that as a result of the foregoing, Farmland Partners' Class Period revenues were overstated, and that as a result, Farmland Partners' public statements were materially false and misleading at all relevant times.
Those who purchased shares of Farmland Partners Inc. (NYSI: FPI) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego
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