STEADFAST ALERT: Bragar Eagel & Squire, P.C. Investigates Sale of STFR and Encourages Investors to Contact the Firm

·2 min read

NEW YORK, July 28, 2021 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, has launched an investigation into whether the officers or directors of Steadfast Apartment REIT, Inc. (Other OTC: STFR) (“STAR”) breached their fiduciary duties or violated the federal securities laws in connection with the company’s proposed merger with Independence Realty Trust, Inc. (NYSE: IRT) (“IRT”).

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On July 26, 2021, STAR announced that it had entered into an agreement to merge with IRT in an all-stock deal. Pursuant to the merger agreement, STAR stockholders will receive 0.905 shares of IRT common stock for each share of STAR common stock owned. At the close of the merger, STAR stockholders will own approximately 50% of the combined company and current IRT stockholders will also own approximately 50%. The deal is scheduled to close in the fourth quarter of 2021.

Bragar Eagel & Squire is concerned that STAR’s board of directors oversaw an unfair process and ultimately agreed to an inadequate merger agreement. Accordingly, the firm is investigating all relevant aspects of the deal and is committed to securing the best result possible for STAR’s stockholders.

If you own shares of STAR and are concerned about the proposed merger, or you are interested in learning more about the investigation or your legal rights and remedies, please contact Melissa Fortunato or Alexandra Raymond by email at or telephone at (646) 860-9157, or by filling out this contact form. There is no cost or obligation to you.

About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit Attorney advertising. Prior results do not guarantee similar outcomes.

Contact Information:
Bragar Eagel & Squire, P.C.
Melissa Fortunato, Esq.
Alexandra Raymond, Esq.

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