Harwood Feffer LLP Announces Investigation of Trade Street Residential, Inc.

NEW YORK, May 11, 2015 /PRNewswire/ -- Harwood Feffer LLP (www.hfesq.com) is investigating potential claims against the board of directors of Trade Street Residential, Inc. ("Trade Street Residential" or the "Company") (NASDAQ: TSRE) concerning the proposed acquisition of the Company by Independence Realty Trust, Inc. (NYSE: IRT) in a transaction worth approximately $269 million.      

Under the terms of the proposed transaction, Trade Street Residential shareholders would receive $3.80 in cash and 0.4108 of newly issued IRT common stock for each share of Company stock they hold.  Based on IRT's closing price on May 8, 2015, the total value of the offer is only $7.32 per Trade Street Residential share.  This offer price is significantly lower than the Company's 52-week trading high of $8.13 per share less than six months ago and at least one analyst's price target of $9.50 per share.  IRT has disclosed that 48.4% of the vote has been locked up by voting agreements with two of the Company's largest shareholders. 

Our investigation concerns whether the Trade Street Residential board of directors is fulfilling its fiduciary duties, maximizing the value of the Company, disclosing all material benefits and costs, and obtaining full and fair consideration for Company stockholders. 

If you own Trade Street Residential shares and wish to discuss this matter with us, or have any questions concerning your rights and interests with regard to this matter, please contact:

Peter W. Overs, Jr., Esq.
Robert I. Harwood, Esq.
Harwood Feffer LLP
488 Madison Avenue
New York, New York 10022
Phone Numbers: (877) 935-7400
(212)935-7400
Email: povers@hfesq.com
Website: http://www.hfesq.com
Follow us on Twitter: @HarwoodFeffer

Harwood Feffer has been representing individual and institutional investors for many years, serving as lead counsel in numerous cases in federal and state courts. Please visit the Harwood Feffer LLP website (http://www.hfesq.com) for more information about the firm.

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