BALA CYNWYD, Pa., May 18, 2015 /PRNewswire/ -- Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of Trade Street Residential, Inc. ("Trade Street" or "the Company") (Nasdaq -TSRE-News) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to Independence Realty Trust, Inc. ("IRT").
Click here to learn more about the investigation http://brodsky-smith.com/937-tsre-trade-street-residential-inc.html, or call: 877-534-2590. There is no cost or obligation to you.
Under the terms of the transaction, Trade Street shareholders will receive only 0.4108 of a share of IRT stock and $3.80 in cash for each share of Trade Street stock they own. The transaction values Trade Street at only approximately $7.32 per share. The investigation concerns whether the Board of Trade Street breached their fiduciary duties to shareholders and whether IRT is underpaying for Trade Street. The transaction may undervalue Trade Street and would result in a loss for many Trade Street shareholders. For example, an analyst has placed a $8.50 per share price target on Trade Street stock and Trade Street stock traded at $8.20 per share on January 30, 2014.
If you own shares of Trade Street and wish to discuss the legal ramifications of the investigation, or have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 510, Bala Cynwyd, PA 19004 by visiting http://brodsky-smith.com/937-tsre-trade-street-residential-inc.html, or calling toll free 877-LEGAL-90.
Brodsky & Smith, LLC is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and class action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and have successfully recovered millions of dollars for our clients and shareholders. Attorney advertising. Prior results do not guarantee a similar outcome.
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