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
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.
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