|[July 16, 2014]
SHAREHOLDER ALERT: Brower Piven Announces The Investigation Of ZipRealty Inc. In Connection With The Proposed Sale Of The Company To Realogy Holdings Corp.
STEVENSON, Md. --(Business Wire)--
The securities litigation law firm of Brower Piven, A Professional
Corporation, has commenced an investigation into possible breaches of
fiduciary duty and other violations of state law by the Board of
Directors of ZipRealty Inc. ("ZipRealty" or the "Company") (NasdaqGM:
ZIPR) relating to the proposed buyout of the Company by Realogy Holdings
On July 15, 2014, Realogy announced the signing of a definitive
agreement pursuant to which Realogy will acquire ZipRealty in an all
cash transaction valued at approximately $166 million.
Under the terms of the transaction, ZipRealty shareholders are
anticipated to receive $6.75 in cash for each share of ZipRealty they
own. According to Yaho! Finance, at least one analyst has issued
a price target for ZipRealty stock at $8.00 per share.
The firm's investigation seeks to determine, among other things, whether
the Company's Board of Directors breached their fiduciary duties by
failing to maximize shareholder value before agreeing to enter into this
transaction, and whether Realogy is underpaying for ZipRealty shares.
If you currently own common stock of ZipRealty and would like to learn
more about the investigation being conducted by Brower Piven, without
cost or obligation to you, please visit our website at http://www.browerpiven.com/currentinvestigations.html.
You may also request more information by contacting Brower Piven either
by email at firstname.lastname@example.org
or by telephone at (410) 415-6616.
Attorneys at Brower Piven have extensive experience in litigating
securities and other class action cases and have been advocating for the
rights of shareholders since the 1980s.
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