Maryland Circuit Court Dismisses Derivative Complaint against Defendants Farmland Partners Inc., its Officers and Directors
DENVER , June 16, 2021 |PRNewswire| -- Farmland Partners Inc. (NYSE: FPI ) (the "Company" or "Farmland") today announced that the Maryland Circuit Court for Baltimore City has dismissed pending shareholder derivative claims brought by two Farmland shareholders against the Company, its officers and board of directors. Derivative Complaints Based on Solely on False and Misleading Statements in a "Short and Distort Attack" Plaintiffs'' demands arose from a "short-and-distort" attack on Farmland, in which an anonymous short-seller writing under the pseudonym "Rota Fortunae" later disclosed as Quinton Mathews , published an article on Seeking Alpha alleging fraud at the Company, including allegations that the company had improperly failed to disclose certain loans that it had made to farmers as material related-party transactions. As its author and his co-conspirators intended, the post caused a substantial decline in the Company''s stock price. In the days after the post was published, the Company investigated the allegations, concluded that they were unfounded, and released a detailed public response rebutting the allegations.
Maryland Circuit Court Dismisses Derivative Complaint against Defendants Farmland Partners Inc., its Officers and Directors
DENVER , June 16, 2021 |PRNewswire| -- Farmland Partners Inc. (NYSE: FPI ) (the "Company" or "Farmland") today announced that the Maryland Circuit Court for Baltimore City has dismissed pending shareholder derivative claims brought by two Farmland shareholders against the Company, its officers and board of directors. Derivative Complaints Based on Solely on False and Misleading Statements in a "Short and Distort Attack" Plaintiffs'' demands arose from a "short-and-distort" attack on Farmland, in which an anonymous short-seller writing under the pseudonym "Rota Fortunae" later disclosed as Quinton Mathews , published an article on Seeking Alpha alleging fraud at the Company, including allegations that the company had improperly failed to disclose certain loans that it had made to farmers as material related-party transactions. As its author and his co-conspirators intended, the post caused a substantial decline in the Company''s stock price. In the days after the post was published, the Company investigated the allegations, concluded that they were unfounded, and released a detailed public response rebutting the allegations.