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.”

Related articles

Mississippi River Shipping Rates Hit Record High

Harvest season is in high gear, and U.S. farmers have another supply chain challenge. Bloomberg says there aren’t enough barges moving goods up and down the shrinking Mississippi River. Drought is drying a vital...

FSA to Consider Eliminating District Committees

Farm Service Agency Administrator Zach Ducheneaux told lawmakers late last week that he’ll give serious consideration to the recommendation to replace the FSA’s district committee system. Industry Update Dot Com says the USDA’s Equities...

Senate Votes on USDA Nominees Off Until After Elections

USDA nominees for top trade and food safety posts will now have to wait until after the midterm elections in November for Senate confirmation votes. The Senate wrapped up work Thursday to head home for...

Exports Keep Adding Value to the Red Meat Supply Chain

U.S red meat exports continue to post solid numbers. Erin Borror, an economist with the U.S. Meat Export Federation, spoke during the Ag Outlook Forum in Kansas City. She says exports continue adding value...

Economist: Recent Farm Income Forecast Reason for Concern

Earlier this month, the Department of Agriculture released its 2022 Farm Sector Income Forecast, which showed a mixed bag for the farm economy. USDA’s Economic Research Service predicts producer cash receipts will increase 21 percent...

Latest articles

%d bloggers like this: