Millrose Properties executives face class action lawsuit
Investors in Millrose Properties have until December 8, 2026, to join a class action lawsuit alleging executives provided misleading information regarding the company's business model.
Levi & Korsinsky, LLP has issued a notice to investors regarding a securities class action lawsuit filed against Millrose Properties, Inc. (NYSE: MRP). The complaint alleges that CEO Darren L. Richman and CFO Garrett Rosenblum are liable for material misstatements in SEC filings made between February 7, 2025, and October 2, 2026.
The lawsuit asserts that while company filings represented that Millrose would not have tenants, the firm was actively purchasing approximately $200 million in finished homes from its former parent company, Lennar Corporation, to lease out. The discrepancy came to public attention on October 2, 2026, causing Millrose shares to drop 8.5% by the end of the next trading session.
The case, filed in the U.S. District Court for the Southern District of Florida, hinges on Section 20(a) control person claims, arguing that executive leadership had the authority and knowledge to correct these disclosures. Interested shareholders have until December 8, 2026, to apply for lead plaintiff status.