SHAREHOLDER ALERT: Brower Piven Announces The Investigation Of ZipRealty Inc. In Connection With The Proposed Sale Of The Company To Realogy Holdings Corp.

Business Wire

STEVENSON, Md.--(BUSINESS WIRE)--

The securities litigation law firm of Brower Piven, A Professional Corporation, has commenced an investigation into possible breaches of fiduciary duty and other violations of state law by the Board of Directors of ZipRealty Inc. (“ZipRealty” or the “Company”) (ZIPR) relating to the proposed buyout of the Company by Realogy Holdings Corp. (“Realogy”).

On July 15, 2014, Realogy announced the signing of a definitive agreement pursuant to which Realogy will acquire ZipRealty in an all cash transaction valued at approximately $166 million.

Under the terms of the transaction, ZipRealty shareholders are anticipated to receive $6.75 in cash for each share of ZipRealty they own. According to Yahoo! Finance, at least one analyst has issued a price target for ZipRealty stock at $8.00 per share.

The firm’s investigation seeks to determine, among other things, whether the Company’s Board of Directors breached their fiduciary duties by failing to maximize shareholder value before agreeing to enter into this transaction, and whether Realogy is underpaying for ZipRealty shares.

If you currently own common stock of ZipRealty and would like to learn more about the investigation being conducted by Brower Piven, without cost or obligation to you, please visit our website at http://www.browerpiven.com/currentinvestigations.html. You may also request more information by contacting Brower Piven either by email at hoffman@browerpiven.com or by telephone at (410) 415-6616.

Attorneys at Brower Piven have extensive experience in litigating securities and other class action cases and have been advocating for the rights of shareholders since the 1980s.

Contact:
Brower Piven, A Professional Corporation
Charles J. Piven, 410-415-6616
1925 Old Valley Road
Stevenson, Maryland 21153
hoffman@browerpiven.com

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