Farmland Partners: ‘Short and Distort’ Class Action Lawsuit Concluded

Farmland Partners Inc. Monday announced the deadline to appeal has passed with no appeal filed by the plaintiff from the U.S. District Court’s April 6, 2022, ruling dismissing the class-action lawsuit against the company and certain of its executives. 

The class-action suit has been pending since July 2018, when FPI, its management, and its shareholders were targeted by short-sellers who knowingly printed false information about the company to manipulate its stock price. 

The author of those attacks has since admitted the falseness of numerous allegations, which were at the core of the class action case. 

The company expects the plaintiff’s decision to forego an appeal of the district court’s order will result in the dismissal of two shareholder derivative lawsuits associated with the underlying class action lawsuit. 

FPI Chairman and CEO Paul Pittman says, “Today, we can finally close this chapter and move on to doing what we do best – investing in high-quality farmland across the country and delivering for our shareholders.”

(Story Courtesy of the NAFB News Service)