SAN DIEGO & HOUSTON–(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;–Shareholder rights law firm Robbins
Arroyo LLP reminds investors that a purchaser of Whitestone REIT
filed a class action complaint against Whitestone REIT (NYSE: WSR) for
alleged violations of the Securities Exchange Act of 1934 between May 9,
2018 and February 27, 2019. Whitestone is real estate investment trust
that owns and operates commercial properties in Texas, Arizona, and
Illinois.
View this information on the law firm’s Shareholder Rights Blog: https://www.robbinsarroyo.com/whitestone-reit-may-19/
Whitestone Accused of Misleading Investors
According to the complaint, since May 2018, Whitestone attested to the
accuracy of its financial statements, effectiveness of internal
controls, and the disclosure of all fraud. However, the truth was
revealed in February 2019 when Whitestone announced 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.
Specifically, Whitestone cited certain accounting errors relating to
nonfinancial assets. On this news, over the course of two trading days,
Whitestone’s price per common share of beneficial interest declined from
a close of $14.25 on February 27, 2019, to a close of $13.01 on February
28, 2019. The next day, the stock continued to plummet, to close at
$12.18 on March 1, 2019, an overall drop of over 14 percent. The stock
has yet to recover.
Whitestone Shareholders Have Legal Options
Concerned shareholders who would like more information about their
rights and potential remedies can contact attorney Leo Kandinov at (800)
350-6003, [email protected]
or via the shareholder
information form on the firm’s website.
Robbins Arroyo LLP is a nationally recognized leader in shareholder
rights law. The firm represents individual and institutional investors
in shareholder derivative and securities class action lawsuits, and has
helped its clients realize more than $1 billion of value for themselves
and the companies in which they have invested.
Attorney Advertising. Past results do not guarantee a similar outcome.
Contacts
Leo Kandinov
Robbins Arroyo LLP
[email protected]
(619)
525-3990 or Toll Free (800) 350-6003
www.robbinsarroyo.com
