Gainey McKenna & Egleston Announces A Class Action Lawsuit Has Been Filed Against Millrose Properties, Inc. (MRP)

NEW YORK, Oct. 09, 2026 (GLOBE NEWSWIRE) -- Gainey McKenna & Egleston announces that it has filed a securities class action lawsuit in the United States District Court for the Southern District of Florida on behalf of all persons or entities who purchased or otherwise acquired Millrose Properties, Inc. (“Millrose” or the “Company”) (NYSE: MRP) securities between February 7, 2025 and October 2, 2026, inclusive (the “Class Period”), which charges Millrose and certain of Millrose’s top executives with violations of the Securities Exchange Act of 1934.

The Complaint alleges that Defendants failed to disclose to investors that: (i) despite representations to the contrary, Millrose’s objectives were not limited to engaging in land purchases, horizontal development, and homesite option purchase arrangements for Lennar and potentially other homebuilders and developers; (ii) despite representations to the contrary, Millrose would in fact enter into lease agreements and would have tenants in its properties; (iii) Millrose would purchase $200 million worth of properties from Lennar; (iv) Millrose would lease the properties purchased from Lennar out at a loss; and (v) as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis. 
        
The Complaint further alleges that the truth emerged on October 2, 2026 when Hunterbrook Media (the “Hunterbrook Report”) issued a report revealing that, contrary to Millrose’s earlier representations, Millrose purchased $200 million worth of finished homes from Lennar, an entity that controls Millrose, with the intent of leasing those properties on the rental market. The Complaint continues to allege that on this news, Millrose’s share price fell by $2.10, or 8.5%, from a close of $24.61 on October 2, 2026 to a close of $22.51 on October 5, 2026.

Investors who purchased or otherwise acquired shares of Millrose should contact the Firm prior to the December 8, 2026 lead plaintiff motion deadline. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at tjmckenna@gme-law.com or gegleston@gme-law.com.

Please visit our website at http://www.gme-law.com for more information about the firm.