SAN DIEGO, Sept. 24, 2018 (GLOBE NEWSWIRE) -- The Shareholders Foundation, Inc. announces that a lawsuit is pending for certain investors in Farmland Partners Inc. (: FPI) shares.
Investors who purchased shares of Farmland Partners Inc. (: FPI) have certain options and should contact the Shareholders Foundation at [email protected] or call +1(858) 779 - 1554.
On July 11, 2018, a report was published alleging that Farmland Partners Inc. (“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 Partners Inc’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.”
On July 12, 2018, a lawsuit was filed against Farmland Partners Inc. over alleged securities laws violations. The plaintiff claims that 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’ revenues were overstated between May 9, 2017, through July 10, 2018, and that as a result, Farmland Partners’ public statements were materially false and misleading at all relevant times.
Those who purchased Farmland Partners Inc. (: FPI) shares should contact the Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. Any referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. It is not intended as legal advice and should not be relied upon.
CONTACT:
Shareholders Foundation, Inc.
Michael Daniels
+1 (858) 779-1554
[email protected]
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Lawsuit for Investors in NYSE: FPI shares against Farmland Partners Inc. announced by Shareholders Foundation
Sep 24, 2018
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