The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Farmland Partners Inc. (NYSE: FPI) who purchased shares between March 16, 2016 and July 10, 2018. The action, which was filed in the United States District Court for the District of Colorado, alleges that the Company violated federal securities laws.
In particular, the FPI lawsuit alleges that (1) that Farmland artificially increased revenues by making loans to related-party tenants who round-tripped the cash back to Farmland as rent; (2) that as a result, Farmland’s earnings during fiscal year 2017 were materially overstated; (3) the true extent and effect of Farmland’s non-arm’s length transactions; and (4) as a result, Defendants’ statements about the Company’s business, operations and prospects were materially false and misleading and/or lacked reasonable bases at all relevant times.
Shareholders have until September 10, 2018 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
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