Law Firm Brower Piven Announces Investigation of Zipcar, Inc.
The securities litigation firm of Brower Piven, A Professional
Corporation, has commenced an investigation into possible breaches of
fiduciary duty to current shareholders of Zipcar, Inc. (“Zipcar” or the
“Company”) (Nasdaq: ZIP) and other violations of state law by the board
of directors of Zipcar relating to the proposed acquisition of the
Company by Avis Budget Group, Inc. (“Avis”). The firm’s investigation
seeks to determine, among other things, whether Zipcar’s board of
directors breached their fiduciary duties by failing to maximize
shareholder value.
Under the terms of the proposed transaction, Zipcar shareholders will
receive $12.25 in cash for each share of common stock they own. The
transaction is currently being valued at $500 million. According to
Yahoo! Finance, the high analyst price target is $13.00 per Zipcar share.
If you currently own common stock of Zipcar and would like to learn more
about the investigation being conducted by Brower Piven, you may email
or call Brower Piven, who will, without obligation or cost to you,
attempt to answer your questions. You may contact Brower Piven by email
at hoffman@browerpiven.com,
by calling (410) 415-6616, or at Brower Piven, A Professional
Corporation, 1925 Old Valley Road, Stevenson, Maryland 21153. Attorneys
at Brower Piven have combined experience litigating securities and other
class action cases of over 60 years.
