Halper Sadeh LLC has opened an inquiry into Whitestone REIT’s proposed acquisition by Ares Management, citing concerns that the agreed terms may violate federal securities laws or breach directors’ fiduciary duties. The firm is probing whether insiders stand to gain benefits unavailable to ordinary shareholders.

Under the merger agreement, Ares Management will acquire each Whitestone common share or unit for $19.00 in cash. The deal structure may include provisions that limit competing bids or contain undisclosed side agreements.

Whitestone shareholders are being advised to evaluate their rights at no upfront cost under a contingent fee arrangement. The law firm may seek increased deal consideration, enhanced disclosures or other remedies on behalf of investors.