Plaintiff's law firm issued a press release on July 11, 2018. According to the press release, Farmland Partners is an internally managed real estate company that owns and seeks to acquire high-quality North American farmland and makes loans to farmers secured by farm real estate. Farmland purports to own or have under contract over 166,000 acres in 17 states.

The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operations and compliance policies. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) Farmland Partners artificially increased its revenues by making loans to related party tenants; (ii) as a result of the foregoing, Farmland Partners’ Class Period revenues were overstated; and (iii) as a result, Farmland Partners’ public statements were materially false and misleading at all relevant times.

The first filed case (Docket 18-CV-01771) was voluntarily dismissed on November 13, 2018. A related case continues under Docket 18-CV-02104.

On December 3, the Court issued an Order appointing Lead Plaintiffs and Counsel. Lead Plaintiff filed an amended Complaint on March 11, 2019. On April 15, Defendants filed a Motion to Dismiss the amended Complaint. The Court issued an Order denying the Motion to Dismiss on June 18.

On December 8, 2020, Lead Plaintiffs filed a second amended Complaint. On June 7, 2021, the Court issued an Order adopting the recommendation of the Magistrate Judge to withdraw and replace the Lead Plaintiffs.

Defendants filed a Motion to Dismiss the second amended Complaint on August 6, 2021. On September 30, the Court issued an Order denying Defendants' Motion to Dismiss. Also on September 30, the Court issued an Order partially granting Lead Plaintiffs' Motion for Class Certification.

Defendants filed a Motion for Summary Judgment on November 15, 2021. On April 5, 2022, the Court issued an Order granting Defendants' Motion for Summary Judgment. The Court entered Final Judgment on April 6.