Investigation of ZipRealty, Inc.
Smithtown, New York – July 17, 2014
The Law Office of Jack Stuart Beige & Associates, PC, announces it is investigating the Board of Directors of ZipRealty, Inc. (NASDAQ GM: ZIPR) for possible breaches of fiduciary duties and other violations of law in connection with ZipRealty, Inc.’s agreement to be acquired by Realogy Holdings Corp. (NYSE: RLGY) (“Realogy”) in a transaction valued at approximately $166 million.
Under the terms of the agreement, public shareholder of ZipRealty, Inc. (“ZipRealty”) would receive $6.75 in cash for each share of ZipRealty they own.
The investigation concerns whether ZipRealty’s Board of Directors breached its fiduciary duties to stockholders, whether the proposed consideration to be paid to ZipRealty’s stockholders would be fair and adequate, and whether ZipRealty is acting in its stockholders’ best interests.