SHAREHOLDER ALERT: Pomerantz LLP Investigates Claims That the Merger May Not Be in the Best Interest of Investors of Trade Street Residential Inc. – TSRE

NEW YORK, NY / ACCESSWIRE / May 12, 2015 / Pomerantz LLP is investigating claims on behalf of investors of Trade Street Residential Inc. (“Trade Street” or the “Company”) (NASDAQ: TSRE) (ISIN: US89255N2036) (CUSIP: 89255N203) concerning the proposed acquisition of Trade Street by Independence Realty Trust, Inc. (“IRT”).

Trade Street shareholders seeking more information about this acquisition are advised to contact Robert Willoughby at rswilloughby@pomlaw.com or 212-661-1100 or 888-476-6529, ext. 237.

The investigation concerns whether the Trade Street directors are breaching their fiduciary duties by failing to adequately shop the Company and maximize shareholder value. Under the terms of the proposed transaction, Trade Street shareholders will receive $3.80 in cash and 0.4108 of newly issued IRT common stock, for each Trade Street common stock. Based on the agreed upon “Reference Price” of $9.25 for IRT shares, this offer represents the equivalent of $7.60 in value per share to Trade Street stockholders. However, an analyst recently set a price target for Trade Street shares at $9.50 per share. Moreover, the Trade Street stock closed above the offered price in March 2015.

Pomerantz LLP, with offices in New York, Chicago, Florida, and Los Angeles, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz LLP pioneered the field of securities class actions. Today, more than 75 years later, the Pomerantz LLP continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of defrauded investors. See www.pomerantzlaw.com.

SOURCE: Pomerantz LLP

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