LOS ANGELES–(BUSINESS WIRE)–lt;a href=”https://twitter.com/search?q=%24WSR&src=ctag” target=”_blank”gt;$WSRlt;/agt; lt;a href=”https://twitter.com/hashtag/CLASSACTION?src=hash” target=”_blank”gt;#CLASSACTIONlt;/agt;–Glancy
Prongay & Murray LLP (“GPM”) reminds investors of the upcoming June
17, 2019 deadline to file a lead plaintiff motion in the class
action filed on behalf of Whitestone REIT (“Whitestone” or the
“Company”) (NYSE: WSR)
investors who purchased securities between May 9, 2018 and
February 27, 2019, inclusive (the “Class Period”).
If you are a shareholder who suffered a loss, click here to
participate.
If you wish to learn more about this action, or if you have any
questions concerning this announcement or your rights or interests with
respect to these matters, please contact Lesley Portnoy, Esquire, at
310-201-9150, Toll-Free at 888-773-9224, or by email to [email protected],
or visit our website at www.glancylaw.com.
On February 27, 2019, after the market closed, the Company revealed that
its 2018 financial results for the periods ending March 31, June 30, and
September 30 could no longer be relied upon and would be restated, based
on a review by auditing committee of Whitestone’s board of trustees.
On this news, shares of Whitestone fell $1.24 per share, or over 8%, to
close at $13.01 on February 28, 2019, thereby injuring investors.
The complaint filed in this class action alleges that throughout the
Class Period, Defendants made materially false and misleading statements
regarding the Company’s business, operational and compliance policies.
Specifically, Defendants made false and/or misleading statements and/or
failed to disclose that: (1) the Company lacked effective internal
control over financial reporting; (2) Whitestone was incorrectly
recognizing assets and liabilities associated with its contribution to
Pillarstone Capital REIT Operating Partnership LP; (3) the Company’s
financial statements for the fiscal year 2018 were overstating revenues;
(4) the Company’s financial statements for the fiscal year 2018 could no
longer be relied upon; and (5) as a result of the foregoing, the
Company’s financial statements were materially false and misleading at
all relevant times.
Follow us for updates on Twitter: twitter.com/GPM_LLP.
If you purchased or otherwise acquired Whitestone securities during the
Class Period you may move the Court no later than June 17, 2019 to
request appointment as lead plaintiff in this putative class action
lawsuit. To be a member of the class action you need not take any action
at this time; you may retain counsel of your choice or take no action
and remain an absent member of the class action. If you wish to learn
more about this class action, or if you have any questions concerning
this announcement or your rights or interests with respect to the
pending class action lawsuit, please contact Lesley Portnoy, Esquire, of
GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067
at 310-201-9150, Toll-Free at 888-773-9224, by email to [email protected],
or visit our website at www.glancylaw.com.
If you inquire by email please include your mailing address, telephone
number and number of shares purchased.
This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and ethical rules.
Contacts
Glancy Prongay & Murray LLP, Los Angeles
Lesley Portnoy,
310-201-9150 or 888-773-9224
[email protected]
www.glancylaw.com
