The Law Firm of Levi & Korsinsky, LLP Announces Investigation into Possible
Breaches of Fiduciary Duty by the Board of Zipcar, Inc. in Connection with
the Sale of the Company to Avis Budget Group, Inc.
NEW YORK -- January 3, 2013
Levi & Korsinsky is investigating the Board of Directors of Zipcar, Inc.
(“Zipcar” or the “Company”) (NasdaqGS: ZIP) for possible breaches of fiduciary
duty and other violations of state law in connection with the sale of the
Company to Avis Budget Group, Inc. (NasdaqGS: CAR).
Click here to learn how to join the action: http://zlk.9nl.com/zipcar-zip/, or
call toll free 1-877-363-5972. There is no cost or obligation to you.
Under the terms of the transaction, Zipcar shareholders will receive $12.25
per share of Zipcar stock they own. The transaction has a total approximate
value of $500 million. Zipcar shareholders representing approximately 31% of
the Company’s stock have agreed to vote in favor of the deal. The
investigation concerns whether the Zipcar Board of Directors breached their
fiduciary duties to stockholders by failing to adequately shop the Company
before entering into this transaction and whether Avis Budget Group, Inc. is
underpaying for Zipcar, thus unlawfully harming Zipcar stockholders. In
particular, Zipcar stock has traded above the merger consideration as recently
as April 25, 2012. Furthermore, at least one analyst has set a price target
for Zipcar stock at $13.00 per share.
If you own common stock in Zipcar and wish to obtain additional information,
please contact Joseph E. Levi, Esq. either via email at firstname.lastname@example.org or by
telephone at (212) 363-7500, toll-free: (877) 363-5972, or
Levi & Korsinsky is a national firm with offices in New York, New Jersey, and
Washington, D.C. The firm has extensive expertise in prosecuting securities
litigation involving financial fraud, representing investors throughout the
nation in securities and shareholder lawsuits. The attorneys at Levi &
Korsinsky have been appointed by numerous courts throughout the country to
serve as lead counsel on behalf of shareholders in major securities lawsuits
and have successfully recovered multimillion-dollar damages awards on behalf
of investors. For more information, please feel free to contact any of the
attorneys listed below. Attorney advertising. Prior results do not guarantee
Levi & Korsinsky, LLP
Joseph Levi, Esq.
Eduard Korsinsky, Esq.
Toll Free: 877-363-5972
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