NEW YORK--(BUSINESS WIRE)--The law firm of Wohl & Fruchter LLP has commenced an investigation into 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.
Wohl & Fruchter’s investigation concerns, among other things, the fairness of the process used to approve the acquisition and whether approval of the acquisition was improperly motivated by any conflicts of interest.
Additional information is available at http://www.wohlfruchter.com/cases/zip.
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.
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Wohl & Fruchter LLP represents plaintiffs in litigation arising from fraud and other fiduciary breaches by corporate managers, as well as other complex litigation matters. Please visit our website, www.wohlfruchter.com, to learn more about our Firm, or contact one of our partners.
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