Judge Rules In Favor Of Cannabis REIT After Investor Lawsuit

A federal judge in New Jersey ruled in favor of a cannabis real estate investment trust after investors failed to show that the company violated securities law. San Diego-based Innovative Industrial Properties beat accusations that the REIT violated the law by ignoring information about one of its tenants, Kings Garden. The tenant was accused of embezzling tens of millions of dollars from IIP, according to Green Market Report. The judge in the case, Evelyn Padin, said that she wasn't persuaded by the claims that the REIT failed to perform its due diligence in the matter. "The Exposure of Kings Garden’s fraud surely impacted investors; however,...