NEW YORK, Jan. 2, 2013 /PRNewswire/ -- Harwood Feffer LLP (www.hfesq.com) is investigating potential claims against the board of directors of Zipcar, Inc. ("Zipcar" or the "Company") (NASDAQ: ZIP) concerning the proposed acquisition of the Company by Avis Budget Group Inc. ("Avis") in a transaction valued at approximately $491 million.
On January 2, 2013, Zipcar announced that it had entered into a definitive agreement pursuant to which the Company will be acquired by Avis. Under the terms of the agreement, Zipcar shareholders will receive $12.25 in cash for each share owned.
Our investigation concerns whether the Zipcar board of directors is fulfilling its fiduciary duties, maximizing the value of the Company, disclosing all material benefits and costs, and obtaining full and fair consideration for Company shareholders.
If you own Zipcar shares and wish to discuss this matter with us, or have any questions concerning your rights and interests with regard to this matter, please contact:
Benjamin Sachs-Michaels, Esq.
Robert I. Harwood, Esq.
Harwood Feffer LLP
488 Madison Avenue
New York, New York 10022
Phone Numbers: (877) 935-7400
Harwood Feffer has been representing individual and institutional investors for many years, serving as lead counsel in numerous cases in federal and state courts. Please visit the Harwood Feffer LLP website (http://www.hfesq.com) for more information about the firm.
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SOURCE Harwood Feffer LLP