NEW YORK, Nov. 19, 2019 /PRNewswire/ -- The Stilwell
Group, the largest shareholder of Wheeler Real Estate Investment
Trust, Inc. (the "Company")(NASDAQ:WHLR), today announced that it
delivered the following open letters to shareholders of the
Company.
The full text of the letters follow:
November 19,
2019
Dear Fellow WHLR Owner,
Wheeler continues trying to distract you from the real issue
plaguing the Company, which is their persistent failure to manage
the Company in the owners' best interest. This election is about
the need for change at WHLR. As promised, Dave Kelly has stooped to mudslinging and
subterfuge out of desperation to keep his compensation and position
rather than face his failures.
We've been trying to find out more about the 'Sea Turtle
Marketplace Project' for some time. WHLR lost (promptly)
$12 million of Company money on the
then CEO's outside project. All of the legacy directors approved
this disaster. Did any of these legacy directors have a personal
interest in Sea Turtle? Did any of them have a more involved role
in this fiasco? We hear Dave Kelly
gets very nervous when the topic of Sea Turtle comes up. They've
been fighting desperately to keep this and other information from
us.
And who keeps stealing the sign we installed on Virginia Beach
Boulevard? Trespassing and theft are criminal offenses.
As WHLR's largest shareholder, our interests are directly
aligned with yours.
Sincerely,
Megan
Parisi
917-881-8076
mparisi@stilwellgroup.com
Dear Fellow Shareholder,
One of my children is, mercifully, recovering from a near-fatal
illness. I will not join in slander or scandal –
neither responding to nor commenting on what is aimed at me, nor
will I direct slander or scandal toward others.
If WHLR shareholders elect me and our other nominees as
directors, we will work diligently to restore and then create
shareholder value in a professional and businesslike manner.
Sincerely,
Joseph
Stilwell
Please vote the GREEN card TODAY to
maximize shareholder value at our Company.
You can vote by telephone, online or by signing
and dating the enclosed GREEN proxy card and
returning it in the postage-paid envelope.
If you have any questions, require assistance
in voting your GREEN proxy card, or need
additional copies of our proxy materials, please
contact us or Okapi Partners at the phone numbers or
email listed below.
Okapi Partners LLC
1212 Avenue of the Americas,
24th Floor
New York, New York 10036
+ 1 (212) 297-0720 (Main)
+ 1 (877) 869-0171 (Toll-Free)
Email: info@okapipartners.com
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SOURCE The Stilwell Group