NEW YORK, July 11, 2018 /PRNewswire/ -- Bernstein
Liebhard LLP, a nationally acclaimed investor rights law firm,
announces that a securities class action lawsuit has been filed on
behalf of those who purchased or acquired the securities of
Farmland Partners Inc. ("Farmland" or the "Company") (NYSE: FPI;
FPI-PB) between May 9, 2017 and
July 10, 2018, both dates inclusive
(the "Class Period"). The lawsuit seeks to recover Farmland
shareholders' investment losses.
To join the Farmland class action, and/or to discuss your legal
rights and options, please visit please visit Farmland
Shareholder Class Action Lawsuit or contact Daniel Sadeh toll free at (877) 779-1414
or dsadeh@bernlieb.com.
According to the lawsuit, throughout the Class Period Defendants
made 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) as a
result, Farmland's public statements were materially false and
misleading at all relevant times.
On July 11, 2018, Rota
Fortunae published a report stating, among other things,
that "FPI is artificially increasing revenues by making loans to
related-party tenants who round-trip the cash back to FPI as rent;
310% of 2017 earnings could be made-up." The report further stated
that "FPI has neglected to disclose that the majority of its loans
have been made to two members of the management team, including
Jesse Hough, CEO Paul Pittman's long-time business partner," and
"[w]e found evidence that strongly supports FPI has significantly
overpaid for properties."
On this news, Farmland's stock fell $3.37 per share, or over 38%, from its previous
closing price to close at $5.28 per
share on July 11, 2018, damaging
investors.
If you wish to serve as lead plaintiff, you must move the Court
no later than September 10, 2018. A
lead plaintiff is a representative party acting on behalf of other
class members in directing the litigation. Your ability to share in
any recovery doesn't require that you serve as lead plaintiff. If
you choose to take no action, you may remain an absent class
member.
To join the Farmland class action, and/or to discuss your legal
rights and options, please
visit https://www.bernlieb.com/cases/farmland-partners-inc-fpi-class-action-lawsuit-73/ or
contact Daniel Sadeh toll free at
(877) 779-1414 or dsadeh@bernlieb.com.
Since 1993, Bernstein Liebhard LLP has recovered over
$3.5 billion for its clients. In
addition to representing individual investors, the Firm has been
retained by some of the largest public and private pension funds in
the country to monitor their assets and pursue litigation on their
behalf. As a result of its success litigating hundreds of lawsuits
and class actions, the Firm has been named to The National Law
Journal's "Plaintiffs' Hot List" thirteen times and listed in
The Legal 500 for ten consecutive years.
ATTORNEY ADVERTISING. © 2018 Bernstein Liebhard LLP. The law
firm responsible for this advertisement is Bernstein Liebhard LLP,
10 East 40th Street, New York, New
York 10016, (212) 779-1414. The lawyer responsible for this
advertisement in the State of
Connecticut is Michael S. Bigin. Prior results do not
guarantee or predict a similar outcome with respect to any future
matter.
Contact Information
Daniel Sadeh
Bernstein Liebhard LLP
http://www.bernlieb.com
(877) 779-1414
dsadeh@bernlieb.com
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