On January 8, 2013, a class action complaint was filed in the Delaware Court of Chancery against officers and directors of Zipcar, Inc. (“Zipcar”), and Avis Budget Group, Inc. (“Avis”) on behalf of the securities holders of Zipcar alleging breaches of fiduciary duties in connection with Avis’ proposed acquisition of Zipcar at the unfair price of $12.25 per share.
For further details about this litigation, please click here.