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Glancy Prongay & Murray LLP Announces the Filing of a Securities Class Action on Behalf of Whitestone REIT Investors

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”), a national investors rights law
firm, announces that a class action lawsuit has been filed on behalf of
investors that acquired Whitestone REIT (“Whitestone” or the “Company”)
(NYSE: WSR)
securities between May 9, 2018 and February 27, 2019, inclusive
(the “Class Period”). Whitestone investors have until June 17,
2019
to file a lead plaintiff motion.

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 shares of Whitestone during the Class Period you may
move the Court no later than June 17, 2019 to ask the
Court to appoint you as lead plaintiff. To be a member of the Class 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. 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, 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
www.glancylaw.com
[email protected]

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