BUYOUT OF ZIPCAR - LAW FIRM SEEKS HIGHER PRICE FOR SHAREHOLDERS
January 2, 2012
New York, New York -- Tripp Levy PLLC, a leading national securities law firm, has announced that it has been retained to represent shareholders of Zipcar in connection with the acquisition of the company. Avis Budget Group, Inc. (CAR) and Zipcar, Inc. (ZIP), announced that Avis Budget Group has agreed to acquire Zipcar for $12.25 per share in cash
The lawsuit seeks to challenge the board of directors of ZIP on whether they breached their fiduciary duties by not engaging in a full and fair auction for the company, while not obtaining personal benefits for themselves in selling the company this unfair price. Indeed, wall street analyts have projected the company's true going forward takeover value is in excess of $13 per share.
If you are a shareholder of ZIP and would like additional information concerning this matter, please contact us toll free at 877-772-3975 or email at contact @ tripplevy