Overview

• The putative class action, City of St. Clair Shores Police and Fire Retirement System v. Lineage, Inc., No. 25-cv-12383 (E.D. Mich.), names the company along with certain executives, directors, underwriters, and the IPO sponsor under the Securities Act of 1933.
• Plaintiffs allege the IPO registration statement concealed weakening customer demand, added cold‑storage capacity, post‑pandemic destocking, and pre‑IPO price increases that could not be sustained.
• The complaint contends the Maryland cold‑storage REIT was experiencing stagnant or falling revenue, occupancy, and rent contrary to representations in the offering materials.
• Lineage sold over 65 million shares at $78 in July 2024 to raise more than $5 billion, and the stock has since fallen to lows near $40 and remains below the offer price.
• Plaintiff firms including Robbins Geller, Bernstein Liebhard, and the Law Offices of Howard G. Smith have issued notices regarding the lead‑plaintiff process under the PSLRA, and the allegations remain unproven with no class certified.