Zipcar Shareholder Alert: Briscoe Law Firm and Powers Taylor, LLP Investigate Sale to Avis Budget Gr
Jan 2nd 2013 9:36AM
Updated Jan 2nd 2013 9:42AM
Zipcar Shareholder Alert: Briscoe Law Firm and Powers Taylor, LLP Investigate Sale to Avis Budget Group
DALLAS--(BUSINESS WIRE)-- Former United States Securities and Exchange Commission attorney Willie Briscoe and the securities litigation firm of Powers Taylor, LLP are investigating the sale of Zipcar, Inc. ("Zipcar") (NAS: ZIP) to Avis Budget Group, Inc. for shareholders. Under the terms of the proposed deal valued at approximately $500 million, Zipcar shareholders will only receive $12.25 in cash for each share of Zipcar stock owned, which is below the 52 week high of $16.25 per share.
If you are an affected investor, and you want to learn more about the lawsuit or join the action, contact Zach Groover at Powers Taylor, LLP, toll free (877) 728-9607, via email at email@example.com or Willie Briscoe at The Briscoe Law Firm, PLLC, (214) 239-4568, or via email at WBriscoe@TheBriscoeLawFirm.com. There is no cost or fee to you.
The Zipcar sale investigation centers on whether Zipcar's shareholders are receiving adequate compensation for their shares in the buyout, whether the transaction undervalues Zipcar's stock, and whether Zipcar's board attempted to obtain the highest share price for all shareholders prior to agreeing to the deal. Notably, at least one analyst with Yahoo! Finance has estimated that the true inherent value of Zipcar could be as high as $13.00 per share, well above the proposed sale price. Shareholder rights attorney Willie Briscoe stated that "due to the proposed sale price, the size of the deal and other factors, we believe this transaction may undervalue Zipcar's stock. Our proposed lawsuit will seek to obtain the highest share price for all shareholders."
The Briscoe Law Firm, PLLC is a full service business litigation and shareholder rights advocacy firm with more than 20 years of experience in complex litigation and transactional matters.
Powers Taylor, LLP is a boutique litigation law firm that handles a variety of complex business litigation matters, including claims of investor and stockholder fraud, shareholder oppression, shareholder derivative suits, and security class actions.
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