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Case Status:    ONGOING    
On or around 05/30/2019 (Ongoing date of last review)

Filing Date: April 16, 2019

According to the Complaint, Whitestone REIT owns and operates 57 commercial properties totaling 4.8 million square feet of gross leasable area in Texas, Arizona and Illinois. As of December 31, 2018, its property portfolio had a gross book value of $1.1 billion. Whitestone has elected to be taxed as a REIT under the Internal Revenue Code of 1986. Additionally, through an investment in Pillarstone Capital REIT Operating Partnership LP, Whitestone owns a majority interest in 11 properties containing approximately 1.3 million square feet of gross leasable area. Upon information and belief, the Company owns 81.4% of the total outstanding units of Pillarstone.

The Complaint alleges that throughout the Class Period, Whitestone made materially false and/or misleading statements and/or failed to disclose: (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.

On May 30, 2019, the Court issued an Order consolidating cases under Docket 19-CV-01379.

COMPANY INFORMATION:

Sector: Services
Industry: Real Estate Operations
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: WSR
Company Market: New York SE
Market Status: Public (Listed)

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: S.D. Texas
DOCKET #: 19-CV-01379
JUDGE: Hon. Lynn N Hughes
DATE FILED: 04/16/2019
CLASS PERIOD START: 05/09/2018
CLASS PERIOD END: 02/27/2019
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Levi & Korsinsky, LLP
    30 Broad Street, 15 1h Floor, Levi & Korsinsky, LLP, NY 10004
    212.363.7500 212.363-7171 ·
  2. Steckler Gresham Cochran PLLC
    12720 Hillcrest Rd, Suite 1045, Steckler Gresham Cochran PLLC, TX 75230
    (972) 387-4040 (972) 387-4041 ·
No Document Title Filing Date
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