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Core Viewpoint - The Gross Law Firm has issued a notice to shareholders of Avis Budget Group, Inc. regarding a class action lawsuit due to allegations of materially false and misleading statements made by the company during a specified class period [1]. Group 1: Allegations - The complaint alleges that Avis Budget implemented a plan to significantly accelerate its fleet rotation in Q4 2024, which shortened the useful life of most vehicles in the Americas segment, reducing their recoverable value [1]. - As a result of the accelerated fleet rotation, Avis Budget is expected to recognize billions of dollars in impairment charges and incur substantial losses [1]. - The allegations suggest that these actions had a significant negative impact on the company's financial results and overstated its financial and business prospects [1]. Group 2: Class Action Details - The class period for the lawsuit is from February 16, 2024, to February 10, 2025, and shareholders are encouraged to register for participation [1][2]. - The deadline for shareholders to seek lead plaintiff status is June 24, 2025, and there is no cost or obligation to participate in the case [2]. Group 3: Law Firm Background - The Gross Law Firm is a nationally recognized class action law firm dedicated to protecting the rights of investors who have suffered due to deceit, fraud, and illegal business practices [3]. - The firm aims to ensure companies adhere to responsible business practices and seeks recovery for investors affected by misleading statements that led to artificial inflation of stock prices [3].

Core Insights - CARsgen Therapeutics Holdings Limited announced preliminary clinical data for CT0596, an allogeneic BCMA-targeted CAR-T therapy, currently in exploratory clinical studies for relapsed/refractory multiple myeloma (R/R MM) and plasma cell leukemia (R/R PCL) [1][2] Group 1: Clinical Data and Efficacy - As of May 6, 2025, 8 patients with R/R MM were infused with CT0596 after lymphodepletion, showing favorable tolerability and encouraging efficacy signals across all predefined dose levels [2] - Among 5 patients who completed the first efficacy assessment at Week 4, 3 patients (60%) achieved stringent complete response/complete response (sCR/CR), and 4 patients (80%) achieved minimal residual disease (MRD)-negativity in the bone marrow [5] - Early efficacy data from 2 patients at Day 14 indicated reductions in measurable lesions by ≥92% and ≥65%, respectively [5] Group 2: Technology and Platform - CARsgen developed the THANK-u Plus™ platform to enhance CAR-T technology, demonstrating sustained expansion regardless of NKG2A expression levels on NK cells, with improved antitumor efficacy compared to the previous THANK-uCAR® [3] - The platform shows potential for developing diverse allogeneic CAR-T therapies, with CAR-T cells exhibiting robust antitumor activity in the presence of NK cells [3] Group 3: Company Overview - CARsgen is focused on innovative CAR T-cell therapies for unmet clinical needs, including hematologic malignancies, solid tumors, and autoimmune diseases [4] - The company has established end-to-end capabilities for CAR T-cell research and development, covering target discovery, preclinical research, clinical development, and commercial-scale production [4] - CARsgen aims to improve safety profiles, enhance efficacy in treating solid tumors, and reduce treatment costs, positioning itself as a global leader in biopharmaceuticals [4]

Core Viewpoint - Faruqi & Faruqi, LLP is investigating potential claims against Avis Budget Group, Inc. due to significant financial losses attributed to misleading statements and a flawed fleet rotation strategy [3][5]. Group 1: Financial Performance - Avis Budget reported a loss of $1.96 billion, or $55.66 per share, for Q4 2024, a stark contrast to a profit of $259 million, or $7.10 per share, in the same period the previous year [6]. - The loss was primarily due to a one-time non-cash impairment of $2.3 billion and additional non-cash charges of $180 million resulting from an accelerated fleet rotation strategy [6]. Group 2: Legal Implications - A federal securities class action has been filed against Avis, with a deadline of June 24, 2025, for investors to seek the role of lead plaintiff [3][8]. - The complaint alleges that Avis and its executives violated federal securities laws by making false statements and failing to disclose the negative impacts of their fleet rotation plan [5]. Group 3: Management Changes - CEO Joseph A. Ferraro will transition to a Board Advisor role effective June 30, 2025, with Brian Choi taking over as CEO on July 1, 2025 [7]. - Following the announcement of these management changes, Avis Budget's stock price fell by $6.12 per share, or 6.82%, closing at $83.59 per share [7].

Core Viewpoint - Investors with significant losses in Avis Budget Group, Inc. have the opportunity to lead a securities fraud class action lawsuit against the company due to undisclosed financial impacts related to fleet rotation and impairment charges [1][3]. Summary by Sections Lawsuit Details - The lawsuit alleges that from February 16, 2024, to February 10, 2025, Avis failed to disclose a plan to accelerate fleet rotation, which shortened the useful life of vehicles in the Americas segment and reduced their recoverable value [3]. - As a result of this acceleration, Avis is expected to recognize billions of dollars in impairment charges and incur substantial losses, negatively impacting the company's financial results [3]. - The lawsuit claims that Avis's financial and business prospects were overstated, and positive statements made by the company were materially misleading [3]. Participation Information - Investors who suffered losses in Avis Budget Group are encouraged to contact the Law Offices of Howard G. Smith before June 24, 2025, to participate in the ongoing lawsuit [2][4]. - Interested parties can reach out via email, phone, or the law firm's website for more information regarding their legal rights [2][4].

Market Overview - The global market for Automotive Equipment Rental and Leasing was valued at US$457.1 Billion in 2024 and is projected to reach US$976.0 Billion by 2030, growing at a CAGR of 13.5% from 2024 to 2030 [1][14]. Market Trends & Drivers - The automotive equipment rental and leasing market is gaining momentum due to rising demand for flexible vehicle ownership models and cost-effective solutions [3][6]. - Consumers and businesses are increasingly opting for rental and leasing options to reduce upfront capital expenditures, particularly in urban areas where ownership costs are high [4][7]. - The growth of ride-sharing services and corporate fleets is driving the preference for leasing over purchasing, allowing for cash flow flexibility and access to the latest vehicle models [5][6]. - Key factors driving growth include shifting consumer preferences, technological advancements in fleet management, and the rise of shared mobility services [6][7]. Segment Analysis - The Passenger Car Rental segment is expected to reach US$583.1 Billion by 2030 with a CAGR of 12.9%, while the Truck, Utility Trailer, and RV Rental & Leasing segment is projected to grow at a 13.9% CAGR [11]. - The U.S. market is valued at $120.1 Billion in 2024, and China is forecasted to grow at an impressive 17.8% CAGR to reach $228.9 Billion by 2030 [11]. Tariff Impact Analysis - Global tariff negotiations across 180+ countries are reshaping supply chains, costs, and competitiveness, with the report reflecting the latest developments as of April 2025 [12][13]. - The report includes tariff-adjusted market forecasts by region and segment, analyzing cost and supply chain implications [17]. Company Profiles - The report covers key players in the market, including A-Aerial Service Company Inc., Affiliated Car Rental, Amazing RVs, American Dream Vacations, and Avis Budget Group, Inc. [16][21].

Core Viewpoint - A class action securities lawsuit has been filed against Avis Budget Group, Inc. alleging securities fraud that negatively impacted investors between February 16, 2024, and February 10, 2025 [1][2]. Group 1: Allegations of Fraud - The lawsuit claims that Avis Budget implemented a plan to significantly accelerate its fleet rotation in Q4 2024, which shortened the useful life of most vehicles in the Americas segment [2]. - This acceleration is alleged to have led to billions of dollars in impairment charges and substantial losses for the company [2]. - The financial and business prospects of Avis Budget were reportedly overstated, and the public statements made by the defendants were materially false and misleading [2]. Group 2: Legal Process and Participation - Investors who suffered losses during the specified timeframe have until June 24, 2025, to request to be appointed as lead plaintiff, although participation in any recovery does not require serving as a lead plaintiff [3]. - Class members may be entitled to compensation without any out-of-pocket costs or fees [3]. Group 3: Firm Background - Levi & Korsinsky, LLP has a history of securing hundreds of millions of dollars for shareholders and has been recognized as one of the top securities litigation firms in the United States for seven consecutive years [4].

NEW YORK, May 08, 2025 (GLOBE NEWSWIRE) -- Levi & Korsinsky, LLP notifies investors in Avis Budget Group, Inc. ("Avis Budget" or the "Company") (NASDAQ: CAR) of a class action securities lawsuit. CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of Avis Budget investors who were adversely affected by alleged securities fraud between February 16, 2024 and February 10, 2025. Follow the link below to get more information and be contacted by a member of our team: https://zlk.com/pslra-1/avis-budge ...

☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____ to _____ Commission File No. 001-10308 Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (973) 496-4700 (Registrant's telephone number, including area code) Securities registered pursuant to Sect ...

Financial Data and Key Metrics Changes - The company reported quarterly revenue of $2.4 billion, down from $2.5 billion in Q1 2024, reflecting a year-over-year decline driven by calendar shifts and a 2% decrease in pricing [5][31] - Adjusted EBITDA loss was $93 million compared to a positive $12 million in Q1 2024, marking a $105 million year-over-year change [30][35] - Total net debt leverage ratio remained stable at around 5x, with approximately $1.1 billion in available liquidity as of March 31 [36][37] Business Line Data and Key Metrics Changes - The Americas segment generated over $1.9 billion in revenue with an adjusted EBITDA loss of $67 million, reflecting a 4% decrease in revenue on a constant currency basis [9][17] - International segment revenues were $523 million with an adjusted EBITDA loss of $3 million, showing a year-over-year improvement of $12 million due to better pricing and cost discipline [19][20] Market Data and Key Metrics Changes - In the Americas, vehicle utilization improved nearly four points year-over-year, reaching nearly 70% for the quarter [11][12] - International utilization was 69%, up more than two points compared to the first quarter of 2024 [21] Company Strategy and Development Direction - The company is focused on an accelerated fleet rotation strategy, achieving a record number of vehicle disposals and accepting deliveries of model year 2025 vehicles [6][18] - The strategy aims to maintain fleet discipline, optimize costs, and enhance customer experience through technology investments [8][24] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about leisure travel demand, with forward bookings up year-over-year, despite a pullback in commercial demand [16][66] - The company anticipates adjusted EBITDA in Q2 to exceed $200 million, supported by improved pricing and operational efficiencies [39][40] Other Important Information - The company is navigating uncertainties related to automotive tariffs and their potential impact on fleet costs and vehicle pricing [14][16] - Management emphasized the importance of flexibility in fleet management to adapt to changing demand conditions [93] Q&A Session Summary Question: What operational strategies are in place to maintain higher utilization rates? - Management highlighted the importance of fleet planning and operational efficiencies to optimize vehicle utilization while meeting demand [43][46] Question: How are tariffs impacting fleet plans for model year 2026 vehicles? - Management noted ongoing discussions with OEMs and emphasized flexibility in fleet size and vehicle selection based on market conditions [49][52] Question: What is the competitive landscape like in the Americas? - Management indicated that the competitive environment remains intense but stable, with a focus on execution and operational efficiency [56][58] Question: What gives confidence in achieving the long-term adjusted EBITDA target? - Management cited strong leisure demand, improved fleet management, and operational agility as key factors supporting their outlook [66][70] Question: How is the company balancing buybacks versus deleveraging? - Management reiterated a balanced approach, prioritizing deleveraging while also investing in capital expenditures that drive operational efficiencies [81][84]