Millrose Properties, Inc. (NYSE: MRP) Securities Fraud Class Action

The Millrose Properties, Inc. class action lawsuit was filed on behalf of those who purchased or otherwise acquired Millrose Properties, Inc. (“Millrose”) (NYSE: MRP) securities between February 7, 2026 and October 2, 2026, inclusive (the “Class Period”). Captioned Rubenstein v. Millrose Properties, Inc., No. 26-cv-81386 (S.D. Fla.), the Millrose class action lawsuit alleges that Millrose and/or certain of its officers and/or directors violated federal securities laws by making false or misleading statements and/or omitted to disclose material information.

If you lost money as a result of your Millrose investment and want to find out more about this action and your rights, fill out the form on this page or contact attorney Jonathan Naji, Esq. of KTMC by calling (484) 270-1453 or via e-mail at [email protected]. 

COMPLAINT ALLEGATION SUMMARY:
Millrose operates and manages the acquisition, funding, and development of homesites for homebuilders and land developers, including through land purchases, horizontal development, and homesite option purchase arrangements. Millrose was spun off from Lennar Corporation (“Lennar”) on February 7, 2025, primarily for the purpose of receiving land from Lennar, with Lennar having the option to buy the land back, lot by lot, as it’s ready to build.

The complaint alleges that, throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material facts about the company’s business, operations, and prospects. Specifically, Defendants misrepresented and/or failed to disclose that: (1) 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; (2) Millrose would modify its stated business plan to allow it to purchase $200 million worth of finished homes from Lennar and lease the properties out at a loss, rather than simply own and sell the undeveloped homesites; and (3) as a result of the foregoing, Defendants’ statements about the company’s business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.

WHY DID MILLROSE’S STOCK DROP?
On October 2, 2026, Hunterbrook Media (“Hunterbrook”) published a report revealing that Millrose purchased $200 million worth of finished homes from Lennar with the intent of leasing those properties on the rental market “at what appears to be a loss.” On this news, the price of Millrose Class A common stock declined approximately 8.5%.

THE LEAD PLAINTIFF PROCESS:
The Private Securities Litigation Reform Act of 1995 permits any investor who purchased or acquired Millrose securities during the Class Period to seek appointment as lead plaintiff in the Millrose class action lawsuit. A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member’s claim is typical of the claims of other class members, and that the class member will adequately represent the class. Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. Filling out the online form above or communicating with any counsel is not necessary to participate or share in any recovery achieved in this case. Any member of the purported class may move the court to serve as a lead plaintiff through counsel of his/her choice, or may choose to do nothing and remain an inactive class member.

ABOUT KESSLER TOPAZ MELTZER & CHECK, LLP:
Kessler Topaz Meltzer & Check, LLP (KTMC) is a leading U.S. plaintiff-side law firm focused on securities-fraud class actions and global investor protection. The firm represents individual investors as well as institutions, such as major pension funds, asset managers, and international investors. KTMC has led some of the largest recoveries in securities litigation and has been recognized by peers and the legal media with numerous accolades, including being recognized in Chambers & Partners USA 2026 as a Band 1 Top Firm in Securities and Class Actions, Legal 500’s Tier 1 Rankings for Securities and M&A Litigation, The National Law Journal’s Plaintiff’s Hot List and Trailblazers in Plaintiffs’ Law, BTI Consulting Group’s Honor Roll of Most Feared Law Firms, The Legal Intelligencer’s Class Action Firm of the Year, Lawdragon’s Leading Plaintiff Financial Lawyers, and Law360’s Titans of the Plaintiffs Bar. The firm operates globally with offices in Pennsylvania and California. KTMC has recovered over $25 billion for our clients and the classes they represent.