NEW YORK, Sept. 08, 2025 (GLOBE NEWSWIRE) -- The law firm of Kirby McInerney LLP reminds Lineage, Inc. (“Lineage” or the “Company”) (NASDAQ: LINE) investors of the September 30, 2025 to seek lead plaintiff appointment in the class action filed on behalf of investors who acquired Lineage securities between July 22, 2024 through August 1, 2025 (“the Class Period”).
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What Happened?
On April 30, 2025, Lineage reported first quarter 2025 financial results, including that “[t]otal revenue decreased (2.7)%” to $1.29 billion for the quarter. The Company stated it “experienced more normal seasonal trends in the first quarter after multiple years of elevated inventory levels.” On this news, the price of Lineage shares declined by $8.26 per share, or approximately 14.62%, from $56.49 per share on April 29, 2025 to close at $48.23 on April 30, 2025.
What Is The Lawsuit About?
The lawsuit alleges that Lineage’s July 2024 IPO registration statement was false and/or misleading and/or failed to disclose that: (i) Lineage was then experiencing sustained weakening in customer demand, as additional cold-storage supply had come on line, Lineage’s customers destocked a glut of excessive inventory built up during the COVID-19 pandemic, and Lineage’s customers shifted to maintaining leaner cold-storage inventories on a go-forward basis in response to changed consumer trends; (ii) Lineage had implemented price increases in the lead-up to the IPO that could not be sustained in light of the weakening demand environment facing Lineage; (iii) Lineage was unable to effectively counteract the adverse trends listed above through the use of minimum storage guarantees or as a result of operational efficiencies, technological improvements, or its purported competitive advantages; and (iv) as a result, rather than enjoying stable revenue growth, high occupancy rates, and steady rent escalation as represented in the registration statement, Lineage was in fact suffering from stagnant or falling revenue, occupancy rates, and rent prices. Since the IPO, the price of Lineage stock has fallen to lows near $40 per share.
What Should I Do?
If you purchased or otherwise acquired Lineage securities, have information, or would like to learn more about this investigation, please contact Thomas W. Elrod of Kirby McInerney LLP by email at investigations@kmllp.com, or fill out the form below, to discuss your rights or interests with respect to these matters without any cost to you.
[CLICK HERE TO LEARN MORE ABOUT THE CLASS ACTION]
Kirby McInerney LLP is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney LLP’s website.
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Contacts
Kirby McInerney LLP
Thomas W. Elrod, Esq.
212-699-1180
https://www.kmllp.com
investigations@kmllp.com
