District Court Dismisses All Claims Made By Former CEO Of Whitestone

(RTTNews) - Whitestone REIT (WSR) Monday announced that the district court in Harris County, Texas has dismissed all claims made against the company by former Whitestone CEO James Mastandrea, regarding the termination of his employment.

In the lawsuit filed by him in January of last year, he claimed a breach of his employment contract, negligence, tortious interference with the contract, and civil conspiracy. He was also seeking $25 million in damages and equitable relief.

"We are pleased with the ruling of the Court, ending this lawsuit and fully dismissing the meritless claims made by Mr. Mastandrea. The ending of this litigation will unburden the Company from the significant legal defense costs it has incurred in 2022 and 2023 and positions us for a strong end to the year and 2024," stated Whitestone CEO, Dave Holeman.

On Friday, Whitestone shares closed at $11.54, up 0.96% on the New York Stock Exchange.