Overview
- Shareholder Warren Hern filed the case in the U.S. District Court for the Central District of California (Case No. 2:25-cv-11319).
- The suit alleges Alexandria misled investors about leasing spreads, tenant pipeline, and expected occupancy for a Long Island City property.
- Defendants include the company and three executives: Executive Chairman Joel Marcus, CEO Peter Moglia, and CFO Marc Binda, covering a class period from January 27 to October 27, 2025.
- Alexandria’s October 27 results disclosed $323.9 million in impairments, about $206 million tied to the LIC asset, reduced FFO guidance, and a subsequent 19% stock drop on October 28.
- Multiple investor firms, including Levi & Korsinsky, Holzer & Holzer, Faruqi & Faruqi, Pomerantz, Robbins LLP, and Rosen Law Firm, are soliciting investors ahead of the lead-plaintiff deadline.