MILWAUKEE, May 11, 2015 (GLOBE NEWSWIRE) -- We are investigating the Board of Directors of Trade Street for possible breaches of fiduciary duty and other violations of state law in connection with the sale of Trade Street to Independence Realty.
Click here to learn how to join the action: http://www.ademilaw.com/case/trade-street or call Guri Ademi toll-free at 866-264-3995. There is no cost or obligation to you.
Trade Street’s long-term financial outlook is positive and yet shareholders will receive only equivalent of $7.60 per share. Independence Realty is well aware of Trade Street’s improving financial metrics and is purchasing Trade Street at a substantial discount. The merger agreement unreasonably limits prospective bids by (i) prohibiting solicitation of any further bids, and (ii) imposing a termination penalty should Trade Street receive and accept a superior bid. Trade Street’s insiders and their affiliates will receive millions of dollars in the transaction on terms not available to non-insider shareholders. These insiders can unduly influence a sale of Trade Street not necessarily in the best interests of non-insider shareholders. In light of these facts, our investigation centers on the conduct of Trade Street’s Board of Directors, who have unanimously approved the transaction, and whether they are (i) fulfilling their fiduciary duties to all shareholders, and (ii) obtaining a fair and reasonable price for Trade Street given its current financial condition and prospects.
If you own shares of Trade Street and wish to obtain additional information, please contact Guri Ademi either at gademi@ademilaw.com or toll-free: 866-264-3995, http://www.ademilaw.com/case/trade-street.
We specialize in shareholder litigation involving buyouts, mergers, and individual shareholder rights throughout the country. For more information, please feel free to call us. Attorney advertising. Prior results do not guarantee similar outcomes.