Gainey McKenna & Egleston Announces A Class Action Lawsuit Has Been Filed Against Whitestone REIT (WSR)


NEW YORK, April 18, 2019 (GLOBE NEWSWIRE) -- Gainey McKenna & Egleston announces that a class action lawsuit has been filed against Whitestone REIT (“Whitestone” or the “Company”) (NYSE: WSR) in the United States District Court for the Southern District of Texas on behalf of those who purchased or acquired the securities of Whitestone between May 9, 2018 through February 7, 2019, inclusive (the “Class Period”), seeking to recover damages caused by Defendants’ violations of the federal securities laws and to pursue remedies under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the “Exchange Act”) and Rule 10b-5 promulgated thereunder.

The Complaint alleges Defendants made materially false and/or misleading statements and/or failed to disclose: (1) the Company lacked effective internal control over financial reporting; (2) the Company 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.

Investors who purchased or otherwise acquired shares during the Class Period should contact the Firm prior to the June 17, 2019 lead plaintiff motion deadline.  A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.  If you wish to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at tjmckenna@gme-law.com or gegleston@gme-law.com.

Please visit our website at http://www.gme-law.com for more information about the firm.