Zipcar Tells More About $491M Avis Deal To End Suits

Law360, New York (February 27, 2013, 12:38 PM EST) -- Zipcar Inc. made new disclosures Tuesday to settle lawsuits in Delaware and Massachusetts over its $491 million acquisition by Avis Budget Group Inc., peeling back the curtain on Morgan Stanley & Co.'s role and assuring shareholders that Zipcar's management didn't trade votes for promises of jobs.

The settlement includes 18 disclosures added to the company's proxy statement, but no bump in the $12.25 per-share price. It must still be approved by the courts in Delaware and two Massachusetts counties, the company said in a securities filing....
To view the full article, register now.