Whitestone REIT (NYSE: WSR) Investor Securities Class Action Lawsuit 04/16/2019

If you purchased a significant amount of shares of Whitestone REIT (NYSE: WSR) between May 9, 2018 and February 7, 2019, and / or if you purchased any NYSE: WSR shares prior to May 2018 and continue to hold any of those shares, you have certain options and for certain investors are short and strict deadlines running. Deadline: June 17, 2019. NYSE: WSR investors should contact the Shareholders Foundation, Inc.

To have your information reviewed for options and to recieve notifications about this case, please use this form. You may also send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Company Name(s): 
Whitestone REIT
Case Name: 
Whitestone REIT Shareholder Class Action Lawsuit 04/16/2019
Case Status: 
Lawsuit Filed
Affected Securities
NYSE: WSR
Lawsuit Overview
Type of Lawsuit: 
Shareholder Class Action
Date Filed: 
04/16/2019
Class Period Begin: 
05/09/2018
Class Period End: 
02/07/2019
Court of Filing: 
U.S. District Court for the Southern District of Texas
Deadline To File for Lead: 
06/17/2019
Summary: 

An investor in shares of Whitestone REIT (NYSE: WSR) filed a lawsuit in the U.S. District Court for the Southern District of Texas over alleged violations of Federal Securities Laws by Whitestone REIT in connection with certain allegedly false and misleading statements made between May 9, 2018 and February 7, 2019.

Houton, TX based Whitestone is a community-centered retail REIT that acquires, owns, manages, develops and redevelops high quality "E-Commerce resistant" neighborhood, community and lifestyle retail centers principally located in the largest, fastest growing and most affluent markets in the Sunbelt. Whitestone REIT reported that its annual Total Revenue declined from $125.95 million in 2017 to $119.86 million in 2018 and that its Net Income increased from $8.33 million in 2017 to $21.43 million in 2018.

Shares of Whitestone REIT (NYSE: WSR) declined from $14.62 per share on February 19, 2019 to as low as $11.50 per share on March 11, 2019.

According to the complaint the plaintiff alleges on behalf of purchasers of Whitestone REIT (NYSE: WSR) common shares between May 9, 2018 and February 7, 2019, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between May 9, 2018 and February 7, 2019, Whitestone REIT made materially false and/or misleading statements and/or failed to disclose that the Company lacked effective internal control over financial reporting, that Whitestone REIT was incorrectly recognizing assets and liabilities associated with its contribution to Pillarstone Capital REIT Operating Partnership LP, that the Company’s financial statements for the fiscal year 2018 were overstating revenues, that the Company’s financial statements for the fiscal year 2018 could no longer be relied upon, and that as a result of the foregoing, the Company’s financial statements were materially false and misleading at all relevant times