Getaround, Inc. Stockholders Notified of Investigation into Acquisition Fairness
New York, NY – In a recent development, Levi & Korsinsky, LLP, a prominent securities law firm, has announced the commencement of an investigation into the acquisition of Getaround, Inc. (GETR) by InterPrivate II Acquisition Corp. This investigation centers around the fairness of the transaction and whether the Board of Directors of Getaround harmed stockholders. The acquisition took place prior to December 2, 2022.
Background of the Acquisition
Getaround, Inc. is a leading carsharing marketplace that allows users to rent out their personal vehicles to other individuals. The company’s mission is to “revolutionize the way the world moves by empowering people to rent out their cars when they’re not using them.” On December 2, 2022, InterPrivate II Acquisition Corp. announced that it had entered into a definitive agreement to acquire Getaround in an all-cash transaction. The acquisition was valued at approximately $318 million.
Impact on Individual Stockholders
If you are a stockholder of Getaround, Inc. and purchased your shares prior to December 2, 2022, you may be affected by this investigation. Levi & Korsinsky, LLP is examining whether the Board of Directors of Getaround acted in the best interests of stockholders by agreeing to the proposed acquisition. The investigation will also determine if all material facts were properly disclosed to stockholders.
Potential Effects on the Industry
The outcome of this investigation could have significant implications for the broader carsharing industry. Should it be found that the Getaround Board of Directors failed to disclose material information or acted against the best interests of stockholders, it could deter other companies from pursuing similar acquisitions in the future. This, in turn, could impact the growth and evolution of the carsharing market.
Conclusion
Levi & Korsinsky, LLP’s investigation into the acquisition of Getaround, Inc. by InterPrivate II Acquisition Corp. is an important development for both individual stockholders and the carsharing industry as a whole. As the investigation unfolds, it will shed light on the responsibilities of corporate boards and the importance of transparency in corporate transactions. Stockholders are encouraged to contact Levi & Korsinsky, LLP for more information on the investigation and their potential eligibility to participate.
- Levi & Korsinsky, LLP commences investigation into Getaround, Inc. acquisition
- Investigation centers around fairness and disclosure to stockholders
- Individual stockholders potentially affected if purchased prior to December 2, 2022
- Outcome could impact carsharing industry and future acquisitions
