SLGWF - Cannabis Court Update: REIT IIP Lawsuit Dismissed Slang WW Faces Fraud Allegations In Acquisition Deal | Benzinga
Cannabis REIT IIP Lawsuit Dismissed By New Jersey Judge
A New Jersey Judge has dismissed an investor lawsuit against cannabis REIT Innovative Industrial Properties (IIP) (NYSE: IIPR) that accused IIP of knowing about fraudulent activities by its tenant Kings Garden.
The investors claimed that IIP should have uncovered the fraud through due diligence.
However, Judge Evelyn Padin ruled in favor of IIP, stating that the company had covered itself with risk warnings in its securities filings, making the allegations after those warnings insufficient.
The judge also dismissed accusations ...