Millrose Properties, Inc.
Case Overview
43 Days Left to Seek Lead Plaintiff
| Lead Plaintiff Deadline: | Lead Plaintiff Deadline:12/08/2026 |
| Status: | Status:Investigating |
| Company Name: | Company Name:Millrose Properties, Inc. |
| Court: | Court:Southern District of Florida |
| Case Number: | Case Number:9:26cv81386 |
| Class Period: | Class Period:02/07/2025 - 10/02/2026 |
| Ticker: | Ticker:MRP |
| Related Attorneys: | Lead Attorneys:Thomas W. Elrod |
| Related Practices: | Related Practices:Securities |
The lawsuit alleges that Millrose made false and/or misleading statements and failed to disclose 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 Corporation (“Lennar”); and (iv) Millrose would lease the properties purchase from Lennar out at a loss.
On October 2, 2026, Hunterbrook Media LLC issued a report entitled “Exclusive: Lennar’s Big New Customer Is Its Own Spinoff, Millrose,” revealing that Millrose, the spinoff company that Lennar created in 2025 to hold its land, 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 report stated, “The nation’s second-largest homebuilder is struggling to sell houses. So it found a buyer it previously owned: Millrose Properties, which gets most of its revenue from Lennar and counts Lennar’s CEO as its largest voting shareholder. Contrary to the plans in its initial SEC filings, Millrose has now bought an estimated $200 million of Lennar homes in about a month and is renting them out at what appears to be a loss.” Millrose previously stated in its annual report that it would not “have any tenants or occupants” on its properties. The report states that “the purchases arrived just when Lennar needed them” and that “these sales were the difference between meeting and missing [its delivery forecast],” as Millrose purchased 356 homes in the last week of Lennar’s third quarter 2026, and Lennar beat its delivery forecast by 340 homes. Notably, Lennar was responsible for 72% of Millrose’s revenue last quarter and Lennar CEO Stuart Miller is Millrose’s largest voting shareholder, with a 43% share. On this news, the price of Millrose shares declined by $2.10 per share, or approximately 8.5%, from $24.61 per share on October 2, 2026 to close at $22.51 on October 5, 2026.
On October 2, 2026, Hunterbrook Media LLC issued a report entitled “Exclusive: Lennar’s Big New Customer Is Its Own Spinoff, Millrose,” revealing that Millrose, the spinoff company that Lennar created in 2025 to hold its land, 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 report stated, “The nation’s second-largest homebuilder is struggling to sell houses. So it found a buyer it previously owned: Millrose Properties, which gets most of its revenue from Lennar and counts Lennar’s CEO as its largest voting shareholder. Contrary to the plans in its initial SEC filings, Millrose has now bought an estimated $200 million of Lennar homes in about a month and is renting them out at what appears to be a loss.” Millrose previously stated in its annual report that it would not “have any tenants or occupants” on its properties. The report states that “the purchases arrived just when Lennar needed them” and that “these sales were the difference between meeting and missing [its delivery forecast],” as Millrose purchased 356 homes in the last week of Lennar’s third quarter 2026, and Lennar beat its delivery forecast by 340 homes. Notably, Lennar was responsible for 72% of Millrose’s revenue last quarter and Lennar CEO Stuart Miller is Millrose’s largest voting shareholder, with a 43% share. On this news, the price of Millrose shares declined by $2.10 per share, or approximately 8.5%, from $24.61 per share on October 2, 2026 to close at $22.51 on October 5, 2026.