SHAREHOLDER ALERT: Brower Piven Commences An Investigation Into The Proposed Sale Of Trade Street Residential, Inc. And Encourages Investors To Contact The Firm For Additional Information

May 20, 2015, 12:49 ET from Brower Piven, A Professional Corporation

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 ="file:///E:/TempXE/hoffman@browerpiven.com" rel="nofollow" target="_blank">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

 

SOURCE Brower Piven, A Professional Corporation



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