Lineage Faces Investor Lawsuit and Steep Stock Decline Following IPO

Shares of temperature-controlled logistics real estate investment trust Lineage have experienced a dramatic collapse in value, accompanied by a significant class-action lawsuit filed by investors. The legal action centers on allegations that the company made misleading statements in its initial public offering documentation.

The class-action complaint alleges that Lineage’s IPO prospectus contained materially false and misleading information. Investors claim the company failed to disclose a sustained weakening in customer demand for refrigerated storage services ahead of its public market debut.

According to the legal filing, Lineage presented its strong pre-IPO performance?potentially boosted by pandemic-related demand?as evidence of long-term resilience. The lawsuit contends the company did not adequately account for post-pandemic normalization trends or customers’ moves toward Read more...