The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Whitestone REIT (NYSE: WSR) who purchased shares between May 9, 2018 and February 27, 2019. The action, which was filed in the United States District Court for the Southern District of Texas, alleges that the Company violated federal securities laws.
In particular, the Whitestone lawsuit alleges 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.
Shareholders have until June 17, 2019 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
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