Faruqi and Faruqui, LLP Logo
Share this page

Trade Street Residential, Inc. (TSRE)

(Nasdaq: TSRE)

Summary

TRADE STREET RESIDENTIAL, INC. INVESTOR ALERT: Faruqi & Faruqi, LLP Announces the Investigation of Trade Residential, Inc. Over the Proposed Sale of the Company to Independence Realty Trust, Inc. - TSRE

May 11, 2015 – Juan E. Monteverde, a partner at Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Trade Street Residential, Inc. (“Trade Street” or the “Company”) (Nasdaq: TSRE) for potential breaches of fiduciary duties in connection with the sale of the Company to Independence Realty Trust, Inc. (“IRT”) (NYSE MKT: IRT) in a cash and stock deal. According to the terms of the deal, the Company’s stockholders will receive $3.80 in cash and 0.4108 shares of IRT for each share of Trade Street common stock they own. The deal values each Trade Street share at approximately $7.60, based on an agreed upon reference price of $9.25 for IRT shares. Interestingly, analysts have set price targets as high as $9.50 for a share of Trade Street, which means the deal values each share approximately $1.90 less than analysts do.

The investigation focuses on whether Trade Street’s Board of Directors breached their fiduciary duties to the Company’s stockholders by failing to conduct a fair sales process and whether and by how much this proposed transaction undervalues the Company to the detriment of Trade Street’s shareholders.

If you own common stock in Trade Street and wish to obtain additional information and protect your investments free of charge, please contact Juan E. Monteverde, Esq. either via e-mail at jmonteverde@faruqilaw.com or by telephone at (877) 247-4292 or (212) 983-9330.

Request Information

Please tell us about yourself by completing the form below and we will provide you with additional
information at no cost to you on how to join the Class Action.

  • Company:
    Trade Street Residential, Inc. (TSRE)
  •    

* The submission of this form does not create an attorney-client relationship.

Contact Counsel

Juan E. Monteverde
Faruqi & Faruqi, LLP
685 Third Avenue 26th Floor
New York, NY 10017
Tel: (212) 983-9330

Email:

Case Details

Date:

  • 05/11/2015

Send Information

If you have information regarding this case that you would like to make available, please click here to contact us about our investigation.