Whitestone REIT Exposes New Information Revealing that Erez Nominee Bruce Schanzer Colluded with Terminated Whitestone Chairman and CEO James Mastandrea in a Failed Attempt to Acquire Whitestone
HOUSTON, May 06, 2024 (GLOBE NEWSWIRE) -- Whitestone REIT (NYSE:WSR) (“Whitestone” or the “Company”) has received new information revealing that Erez Asset Management (“Erez”) nominee Bruce Schanzer colluded in late 2023 with terminated Whitestone Chairman and CEO James Mastandrea in an attempt to acquire Whitestone.
- Reflects Schanzer’s pattern of lies, deception and self-dealing
HOUSTON, May 06, 2024 (GLOBE NEWSWIRE) -- Whitestone REIT (NYSE:WSR) (“Whitestone” or the “Company”) has received new information revealing that Erez Asset Management (“Erez”) nominee Bruce Schanzer colluded in late 2023 with terminated Whitestone Chairman and CEO James Mastandrea in an attempt to acquire Whitestone. - For context, in January 2022, Whitestone Trustees David Taylor and Nandita Berry guided the Board in taking the difficult step of terminating Chairman and CEO, James Mastandrea.
- They have since spearheaded an effort, along with Whitestone’s new management team, to reset the Company on a new trajectory.
- “The willingness of …Mastandrea and…Pillarstone to be constructive regarding an Erez approach” demonstrates that Erez, Mastandrea and Pillarstone are acting in concert.