We are investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Steadfast Apartment REIT, Inc. (“STAR” or the “Company”) (OTC: STFR) in connection with the proposed merger of the Company with Independence Realty Trust, Inc. (NYSE: IRT).  Under the terms of the merger agreement, each STAR common share will be converted into 0.905 shares of newly issued IRT common stock. Upon closing of the merger, IRT’s current shareholders will own approximately 50% of the combined company, and STAR shareholders will own approximately 50%.  The combined company is expected to have a pro forma equity market capitalization of approximately$4 billion and a pro forma total enterprise value of approximately $7 billion.  

WeissLaw LLP is investigating whether STAR’s board of directors acted in the best interests of Company shareholders in agreeing to the proposed transaction, the deal’s proposed equity split is fair to STAR shareholders, and all information regarding the sales process and valuation of the transaction will be fully and fairly disclosed.

 WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties.  We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases.  If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at stockinfo@weisslawllp.com

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