Overview
- The case is pending in the U.S. District Court for the Eastern District of Michigan as City of St. Clair Shores Police and Fire Retirement System v. Lineage, Inc., No. 2:25-cv-12383.
- The complaint brings Securities Act Sections 11 and 15 claims on behalf of investors who bought shares pursuant or traceable to the July 2024 registration statement.
- Filings claim the IPO materials concealed weakening demand tied to customer destocking and new cold‑storage capacity, along with unsustainable pre‑IPO price increases and fading pricing power.
- Lineage disclosed inventory unwinding on Feb. 26, 2025, later reported a 2.7% revenue decline on Apr. 30, and the stock fell to lows near $40 from the $78 IPO price, including a 14.62% drop that day.
- Multiple firms—including Bleichmar Fonti & Auld, Rosen Law Firm, Bronstein Gewirtz & Grossman, and Portnoy Law Firm—are soliciting investors, the allegations remain unproven, and no class has been certified.