Mariconda v. Farmland Partners Inc.
Bernstein Liebhard is sole lead counsel representing the lead plaintiff in a securities class action entitled Mariconda v. Farmland Partners, Inc., et al., No. 18-cv-02104-DME-NYW (D. Col.). Plaintiff alleges that the defendants issued false and misleading statements concerning the company’s business, operational and financial results in violation of Section 10(b) of the Securities Exchange Act. Specifically, the defendants artificially increased reported revenues by making loans to related-party tenants who round-tripped the cash back to the company as rent and failed to disclose the true extent and effect of the company’s non-arm’s length transactions. The action is pending.