STEVENSON, Md., May 20, 2015 /PRNewswire/ -- The securities
litigation law firm of Brower Piven, A Professional Corporation,
has commenced an investigation into possible breaches of fiduciary
duty and other violations of state law by the Board of Directors of
Trade Street Residential, Inc. ("Trade Street" or the "Company")
(Nasdaq: TSRE) relating to the proposed buyout of the Company by
Independence Realty Trust, Inc. ("IRT").
Under the terms of the transaction, Trade Street shareholders
are anticipated to receive 0.4108 shares of IRT and $3.80 in cash for each share of Trade Street
common stock owned. Based on IRT's closing price on
May 8, 2015, Trade Street
shareholders would have received compensation valued at
approximately $7.32 per share.
The transaction may undervalue Trade Street and may result in a
substantial loss for many shareholders. For example,
according to Yahoo! Finance, at least one Wall Street
analyst has issued a price target for Trade Street stock at
$8.50 per share.
The firm's investigation seeks to determine, among other things,
whether the Company's Board of Directors failed to satisfy their
duties to shareholders, including whether the Board adequately
pursued alternatives to the acquisition and whether the Board
obtained the best price possible for the Company's shares of common
stock.
If you currently own common stock of Trade Street and believe
that the proposed buyout price is too low, or you would like to
learn more about the investigation being conducted by Brower Piven,
please visit our website at
http://www.browerpiven.com/currentinvestigations.html. You
may also request more information by contacting Brower Piven either
by email at hoffman@browerpiven.com or by telephone at (410)
415-6616.
Attorneys at Brower Piven have extensive experience in
litigating securities and other class action cases and have been
advocating for the rights of shareholders since the 1980s.
CONTACT:
Charles J. Piven
Brower Piven, A Professional Corporation
Telephone: 410-415-6616
hoffman@browerpiven.com
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SOURCE Brower Piven, A Professional Corporation