SAN FRANCISCO, CA – (September 2, 2025) – National plaintiffs law firm Lieff Cabraser Heimann & Bernstein, LLP encourages investors who purchased Lineage, Inc. (“Lineage” or the “Company”) (NASDAQ: LINE) common stock in or traceable to Lineage’s July 2024 initial public offering (“IPO”) to contact us immediately regarding the pending securities class action against Lineage. The deadline to apply to be lead plaintiff is September 30, 2025.
Class Definition: Investors who purchased Lineage common stock in or traceable to Lineage’s July 2024 initial public offering (“IPO”).
Lead Plaintiff Motion Deadline: September 30, 2025
Case information: https://lieffcabraser.com/securities/lineage/
Contact us: Email or text investorinfo@lchb.com or call 1-800-541-7358
Lineage, headquartered in Novi, Michigan, is a real estate investment trust that provides temperature-controlled cold-storage facilities.
The action alleges that Lineage’s IPO Registration Statement contained untrue statements of material fact and omitted to state material facts required to be stated therein or necessary to make the statements not misleading, including that: (1) Lineage was experiencing sustained, waning customer demand before its IPO, due to additional cold-storage suppliers entering the market and Lineage’s customers destocking excess inventory; (2) leading up to its IPO, Lineage had applied price increases that were unsustainable due to the decrease in customer demand; (3) Lineage was unable to counter these trends through minimum storage guarantees or operational efficiencies; and (4) as a consequence, Lineage faced stagnant or declining revenue, occupancy rates, and rent prices.
On August 21, 2024, Lineage announced an $80 million net loss for the second quarter of 2024, a 67% increase from the first quarter of 2024.
On November 6, 2024, Lineage announced its financial results for the third quarter of 2024, during which its IPO had occurred, disclosing a $543 million net loss during the quarter.
On January 14, 2025, The Wall Street Journal reported that Lineage was laying off employees, only six months after its IPO, as a result of reduced customer demand.
On February 26, 2025, Lineage reported its fourth quarter and full year 2024 results, with $1.339 billion in total revenue (a 0.4% year-over-year increase) and an $80 million net loss for the quarter. Multiple analysts questioned why the promised “normalization” of customer inventory levels had not materialized. In response, Lineage CFO and President, defendant Robert Crisci, admitted that the operating environment leading up to the July 2024 IPO was “highly unusual” and that customers “still had elevated inventory levels” throughout the first half of 2024, directly contradicting the IPO’s assurances of stable revenue trends.
On April 7, 2025, Lineage announced that it had dismissed its auditor KPMG LLP.
On April 30, 2025, Lineage announced only $1.292 billion in total revenue in the first quarter of 2025, a decrease of 2.7% year-over-year. During the Company’s earnings call on the same day, analysts expressed surprise and frustration at Lineage’s consistent underperformance.
On June 2, 2025, Lineage announced that defendant Crisci planned to retire from his position as CFO.
On June 3, 2025, Lineage’s CEO, defendant Walter Gregory Lemkuhl, admitted that “in the last couple of years you’ve seen pretty much flat demand” for Lineage’s products and services.
As of the filing of the action against Lineage, the Company’s stock price has fallen from its IPO price of $78 per share to an average of $40 per share in the month of August 2025, a decline of nearly 50%.
About Lieff Cabraser
Lieff Cabraser Heimann & Bernstein, LLP, with over 130 attorneys in offices in San Francisco, New York, Nashville, and Munich, Germany, is an internationally-recognized law firm committed to advancing the rights of investors and promoting corporate responsibility. Repeatedly recognized as a “Plaintiffs’ Powerhouse” by Law360, Lieff Cabraser has litigated some of the most important civil cases in the United States, and has assisted clients in recovering over $131 billion in verdicts and settlements. For over 50 years, Lieff Cabraser has remained committed to ensuring access to justice for all.
Source/Contact
Sharon Lee
Lieff Cabraser Heimann & Bernstein, LLP
415 956-1000
slee@lchb.com
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