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Zipcar Update: Streetcar, Lawsuit, and IPO

When Zipcar announced their car sharing plans things were looking promising, however lawsuits and antitrust issues seem to be holding them back.

Recently a class action lawsuit was filed against Zipcar when they revealed their IPO registration, this lawsuit was dismissed, however we are now hearing that the UK antitrust authorities and the UK’s Office of Fair Trading are investigating Zipcar’s acquisition of Streetcar.

The Office of Fair Trading want Zipcar to keep both companies separate whilst they gather information on the acquisition, however a Zipcar spokeperson recently stated that this is a “very standard process in the UK”, which indicates that Zipcar aren’t too worried.

The market in London is massive thanks to the high-volume of traffic there, the congestion charge and its demographics, therefore if the UK authorities for some reason stopped the acquisition the financial implacation would be massive.

If you would like to find out fully detailed information regarding Zipcar check out the source link below.

Do you think Zipcar will succeed?

Source: EarthToTech

Written by Jamie Pert

Jamie has a background in computer repairs and maintenance along with network administration, he now enjoys utilizing the benefits of new technologies and enjoys writing about anything that brings new technology to the world.

He began writing for Product Reviews in mid 2009 and has since expanded his knowledge across a wide-base of devices, he is looking to get more hands-on experience with new devices to gain a better understanding of the latest and greatest technologies.

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