We are investigating the proposed acquisition of Zipcar, Inc. (Zipcar) (Nasdaq: ZIP) by Avis Budget Group, Inc. (Avis).
On January 2, 2012, Zipcar announced that it had entered into an agreement for Avis to acquire the company for $12.25/share in cash. Avis stated that it anticipates that key members of the Zipcar management team, including Scott Griffith, Zipcar’s chairman and chief executive officer, and Mark Norman, Zipcar’s president and chief operating officer, will continue to set the overall direction and run the daytoday operations of Zipcar.
Our investigation concerns the fairness of the process used to approve the acquisition and whether approval of the acquisition was improperly motivated by any conflicts of interest.
Persons with relevant information, and ZIP shareholders with questions about this investigation, are invited to contact our Firm by calling 866.582.8140, or contacting the attorney below.