Lineage Inc. misrepresented demand for its cold-storage warehouses ahead of last year’s largest initial public offering, which has been followed by underwhelming financial results, a proposed class action said.
Lineage pulled in the largest IPO of 2024 at $5.10 billion, according to data collected by Bloomberg. The real estate investment trust’s stock price has almost halved since then, closing at $42.35 on Aug. 1, the day the complaint was filed by a public pension fund in the US District Court for the Eastern District of Michigan.
The IPO paperwork failed to mention that Lineage saw surged demand and better financial ...
Learn more about Bloomberg Law or Log In to keep reading:
See Breaking News in Context
Bloomberg Law provides trusted coverage of current events enhanced with legal analysis.
Already a subscriber?
Log in to keep reading or access research tools and resources.