NASDAQ: LINE Faces Lawsuit Over Allegedly False IPO Statements

A lawsuit has been filed against Lineage, Inc. (NASDAQ: LINE) alleging false and misleading statements in connection with the company's July 2024 IPO. The plaintiff claims Lineage experienced sustained weakening in customer demand and was unable to counteract it through price increases, minimum storage guarantees, or operational efficiencies. Investors who purchased shares of Lineage, Inc. have options and should contact the Shareholders Foundation for more information.

A lawsuit has been filed against Lineage, Inc. (NASDAQ: LINE) alleging false and misleading statements in connection with the company's July 2024 initial public offering (IPO). The plaintiff, represented by the Rosen Law Firm, claims that Lineage experienced sustained weakening in customer demand and was unable to counteract it through price increases, minimum storage guarantees, or operational efficiencies. The lawsuit also alleges that the registration statement filed in connection with the IPO was false and/or misleading, failing to disclose significant adverse trends affecting Lineage's financial results and business operations.

According to the lawsuit, Lineage was experiencing sustained weakening in customer demand due to additional cold-storage supply coming online, customers destocking excess inventory built up during the COVID-19 pandemic, and a shift to leaner cold-storage inventories in response to changing consumer trends. The registration statement also failed to disclose that Lineage had implemented price increases leading up to the IPO that could not be sustained in the face of weakening demand. The plaintiff further alleges that Lineage was unable to effectively counteract these adverse trends through minimum storage guarantees, operational efficiencies, technological improvements, or its purported competitive advantages.

As a result, the lawsuit claims that Lineage was suffering from stagnant or falling revenue, occupancy rates, and rent prices, rather than enjoying stable revenue growth, high occupancy rates, and steady rent escalation as represented in the registration statement. Consequently, Lineage's financial results, business operations, and prospects were materially impaired, leading to damages for investors.

Investors who purchased shares of Lineage, Inc. (NASDAQ: LINE) have options and should contact the Shareholders Foundation, Inc. for more information. The Shareholders Foundation is a professional portfolio legal monitoring and settlement claim filing service that informs investors of securities class actions, settlements, judgments, and other legal news related to the stock/financial market.

For more information, investors can contact the Shareholders Foundation, Inc. at +1 (858) 779-1554 or visit their website at https://www.shareholdersfoundation.com.

References:
[1] https://www.prnewswire.com/news-releases/nasdaq-line-lawsuit-alert-investors-who-lost-money-with-lineage-inc-nasdaq-line-shares-should-contact-the-shareholders-foundation-302531927.html
[2] https://www.marketscreener.com/news/line-investors-have-opportunity-to-lead-lineage-inc-securities-lawsuit-ce7c51dfdd8ef621