Shareholder Rights Law Firm Johnson & Weaver, LLP Announces Investigation of
Zipcar’s Proposed Acquisition by Avis Budget Group, Inc.
SAN DIEGO -- January 3, 2013
Shareholder Rights Law Firm Johnson & Weaver, LLP is investigating whether
members of the board of directors of Zipcar, Inc. (Nasdaq:ZIP) breached their
fiduciary duties in connection with the proposed acquisition by The Avis
Budget Group, Inc.
On January 2, 2013, The Avis Budget Group announced that they had entered into
definitive merger agreements to acquire ZIP for $12.25 a share.
The investigation will determine whether Zipcar’s Board of Directors breached
their fiduciary duties to stockholders by failing to satisfactorily shop the
Company before entering into this agreement. Jim Baker, lead analyst for
Johnson & Weaver, stated that, “Avis Budget’s offer appears to be inadequate
and not in the best interest of the shareholders.” Baker continued, “Zipcar’s
membership has been growing steadily and in the most recent quarter the
company soundly beat the Street's expectations.” Moreover, according to Baker,
“the merger agreements appear to contain onerous deal protections that prevent
Zipcar’s Board from getting the best price for the shareholders.”
If you are a ZIP shareholder and are interested in learning more about the
investigation or your legal rights and remedies, please contact attorney Brett
Weaver (firstname.lastname@example.org) at 619-230-0063.
Johnson & Weaver, LLP is a nationally recognized shareholders’ rights law
firm. The firm represents individual and institutional investors in
shareholder derivative and securities class action lawsuits. For more
information about the firm and its attorneys, please visit
Johnson & Weaver, LLP
Brett Weaver, 619-230-0063
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