Law office of Brodsky & Smith, LLC announces that it is investigating
potential claims against the Board of Directors of Zipcar, Inc.
("Zipcar" or the "Company") (Nasdaq: Zip) relating to the proposed
acquisition by Avis Budget Group, Inc. ("Avis").
Under the terms of the transaction, Zipcar shareholders will receive
only $12.25 in cash for each share of Zipcar stock they own. The
investigation concerns possible breaches of fiduciary duty and other
violations of state law by the Board of Directors of Zipcar for not
acting in the Company's shareholders' best interests in connection with
the sale process to Avis. The transaction may undervalue the Company and
will result in a loss for many shareholders. For example Zipcar stock
traded at $15.00 as recently as May 27, 2012 and $28.69 on May 10, 2011.
In addition, an analyst has set a price target for Zipcar at $13.00 per
If you own shares of Zipcar stock and wish to discuss the legal
ramifications of the proposed transaction, or have any questions, you
may e-mail or call the law office of Brodsky & Smith, LLC who will,
without obligation or cost to you, attempt to answer your questions. You
may contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at
Brodsky & Smith, LLC, Two Bala Plaza, Suite 602, Bala Cynwyd, PA 19004,
by e-mail at [email protected]
by calling toll free 877-LEGAL-90.
Brodsky & Smith, LLC
Jason L. Brodsky, Esquire