Isso deve fazer o que você está pedindo
unzip -: foo.zip
Da página do manual
-: [all but Acorn, VM/CMS, MVS, Tandem] allows to extract archive members into locations outside of the current '' extraction root folder''. For security reasons, unzip normally removes ''parent dir'' path components (''../'') from the names of extracted file. This safety feature (new for version 5.50) prevents unzip from accidentally writing files to ''sensitive'' areas outside the active extraction folder tree head. The -: option lets unzip switch back to its previous, more liberal behaviour, to allow exact extraction of (older) archives that used ''../'' components to create multiple directory trees at the level of the current extraction folder. This option does not enable writing explicitly to the root directory (''/''). To achieve this, it is necessary to set the extraction target folder to root (e.g. -d / ). However, when the -: option is specified, it is still possible to implicitly write to the root directory by specifiying enough ''../'' path components within the zip archive. Use this option with extreme caution.