BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of investors that purchased or otherwise acquired the securities of Farmland Partners Inc. (“Farmland” or the “Company”) (NYSE: FPI) between May 9, 2017 and July 10, 2018, inclusive (the “Class Period”). Farmland investors have until September 10, 2018 to file a lead plaintiff motion.
Investors suffering losses on their Farmland investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to firstname.lastname@example.org.
On July 11, 2018, Rota Fortunae published a report alleging that Farmland artificially increased revenues by making loans to related-party tenants who round-tripped the cash back to Farmland as rent. The report also claimed that Farmland neglected to disclose that the majority of its loans were made to two members of its management team. On this news, Farmland’s share price fell nearly 40% on July 11, 2018, thereby injuring investors.
The complaint filed in this class action alleges that the Company made false and misleading statements to the market throughout the class period. Farmland inflated its revenue artificially by making loans to related parties. Based on this fact, the Company's revenues were overstated throughout the class period. Farmland's public statements were false and materially misleading.
If you purchased shares of Farmland, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to email@example.com, or visit our website at www.howardsmithlaw.com.
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