‘Short and Distort’ Class Action Lawsuit Officially Concluded | Ezine Daddy

DENVER, May 09, 2022–(BUSINESS WIRE)–Farmland Partners Inc. (NYSE: FPI) (the “Company” or “FPI”) today announced that the appeal period has expired without the plaintiff receiving an appeal from the U.S. District Court on April 6 has entered , 2022 judgment dismissing the class action lawsuit against the company and certain of its officers.

The class action lawsuit has been pending since July 2018, when FPI, its management and shareholders were targeted by short sellers who knowingly printed false information about the company in order to manipulate its stock price and profit from the resulting stock price decline. The perpetrator of those attacks has since admitted the falsity of numerous allegations that formed the core of the class action lawsuit.

The Company anticipates that the plaintiff’s decision not to appeal the district court’s order will result in the dismissal of two shareholder derivatives lawsuits related to the underlying class action, according to testimony by the plaintiffs’ attorneys in recent court filings in these cases. FPI will continue to pursue its claims against the hedge fund involved in the short and distortion attack.

“This class action has long occupied our company and has required us to expend significant resources defending ourselves against baseless allegations,” said Paul Pittman, chairman and CEO of FPI. “Today we can finally close that chapter and move on to what we do best – investing in quality farmland nationwide and delivering for our shareholders.”

The full court ruling in favor of FPI can be read at http://ir.farmlandpartners.com/Judgement.

About Farmland Partners Inc.

Farmland Partners Inc. is an internally managed real estate company that owns and seeks to acquire quality North American farmland and makes farmer loans secured by agricultural real estate. As of the date of this press release, the Company owns and/or manages approximately 185,000 acres in 19 states including Alabama, Arkansas, California, Colorado, Florida, Georgia, Illinois, Indiana, Iowa, Kansas, Louisiana, Michigan, Mississippi, Missouri, Nebraska, North Carolina, South Carolina, South Dakota and Virginia. We have about 26 species of plants and more than 100 tenants. The Company elected to be taxed as a real estate investment trust, or REIT, for US federal income tax purposes beginning with the tax year ended December 31, 2014. For more information: www.farmlandpartners.com or (720) 452-3100.

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the federal securities laws, including, but not limited to, statements relating to expected returns on farmland purchased, our outlook, proposed and pending acquisitions and divestitures, the potential impact of trade disputes and recent extreme weather events on results of the company, financing activities, crop yields and prices, and anticipated rental prices. Forward-looking statements can generally be identified by the use of forward-looking words such as “may”, “should”, “could”, “would”, “projected”, “potential”, “continue”, “expected”, “anticipated”, “future”. “, “intends”, “plans”, “believes”, “estimates” or similar expressions or their negatives as well as statements in the future tense. Although the Company believes that the expectations expressed in such forward-looking statements are based on reasonable assumptions, beliefs and expectations, such forward-looking statements are not predictions of future events or guarantees of future performance, and our actual results could differ materially from these the forward-looking statements. Some factors that could cause such a difference include: general volatility in the capital markets and the market price of the Company’s common stock, changes in the Company’s business strategy, the availability, terms and deployment of capital, the Company’s ability to refinance existing debt on or before maturity on favorable terms or at all, availability of qualified personnel, changes in the company’s industry, interest rates or general economic conditions, adverse developments in crop yields or crop prices, the degree and nature of the company’s competition, timing, price or amount repurchases, if any, under the Company’s stock repurchase program, the ability to make acquisitions or disposals under the Agreement, and the other factors described in the “Risk Factors” section of the Company’s Annual Report on Form 10 si nd. K for the year ended December 31, 2021 and the Company’s other filings with the Securities and Exchange Commission. Any forward-looking information contained herein speaks only as of the date of this press release, and the Company undertakes no obligation to update or revise any forward-looking information to reflect changes in assumptions, the occurrence of unanticipated events or otherwise.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220509005246/en/

contacts

Philip Hayes
phayes@farmlandpartners.com

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