Investor Alert: Kaplan Fox Announces Investigation Of Farmland Partners
NEW YORK, July 24, 2018 /PRNewswire/ -- Kaplan Fox & Kilsheimer LLP (www.kaplanfox.com) is investigating claims on behalf of investors of Farmland Partners Inc. ("Farmland" or the "Company") (NYSE: FPI). Investors who purchased Farmland securities between May 9, 2017 and July 10, 2018 (the "Class Period") may be affected.
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 [Farmland] as rent." The report also states that Farmland "neglected to disclose that the majority of its loans have been made to two members of the management team."
Following this news, the price of Farmland common stock fell $3.37 per share, or nearly 39%, to close at $5.28 per share on July 11, 2018.
A Class Action has been filed on behalf of investors who purchased or otherwise acquired Farmland securities during the Class Period. The complaint alleges that throughout the Class Period, the 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.
If you are a member of the proposed Class, you may move the court no later than September 10, 2018 to serve as a lead plaintiff for the purported class. You need not seek to become a lead plaintiff in order to share in any possible recovery. If you would like to discuss the complaint or our investigation, please contact us by emailing [email protected] or by calling 800-290-1952.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Kaplan Fox & Kilsheimer LLP, with offices in New York, San Francisco, Los Angeles, Chicago and New Jersey, has many years of experience in prosecuting investor class actions. For more information about Kaplan Fox & Kilsheimer LLP, you may visit our website at www.kaplanfox.com. If you have any questions about this Notice, the action, your rights, or your interests, please contact:
Donald R. Hall
KAPLAN FOX & KILSHEIMER LLP
850 Third Avenue, 14th Floor
New York, New York 10022
(800) 290-1952
(212) 687-1980
Fax: (212) 687-7714
E-mail: [email protected]
Laurence D. King
KAPLAN FOX & KILSHEIMER LLP
350 Sansome Street, Suite 400
San Francisco, California 94104
(415) 772-4700
Fax: (415) 772-4707
E-mail: [email protected]
SOURCE Kaplan Fox & Kilsheimer LLP
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