NEW YORK, April 29, 2025 (GLOBE NEWSWIRE) -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC, a nationally recognized law firm, notifies investors that a class action lawsuit has been filed against Avis Budget Group, Inc. ("Avis Budget" or "the Company") (NASDAQ: CAR) and certain of its officers. Class Definition This lawsuit seeks to recover damages against Defendants for alleged violations of the federal securities laws on behalf of all persons and entities that purchased or otherwise acquired ...

ST. PAUL, Minn., April 29, 2025 /PRNewswire/ -- ScaleReady, in collaboration with Wilson Wolf Manufacturing, Bio-Techne Corporation and CellReady, today announced that March Biosciences has been awarded a $200,000 G-Rex® Grant. March Biosciences' G-Rex® Grant will be used to advance the manufacturing of their lead asset, MB-105, a novel investigational autologous CAR-T cell therapy targeting CD5 for patients with T-cell lymphomas. "As we ramp up clinical manufacturing and advance towards commercialization o ...

Core Viewpoint - A class action lawsuit has been filed against Avis Budget Group, Inc. for allegedly misleading investors regarding its strategy to accelerate fleet rotations, which led to significant financial losses and impairment charges [1][2]. Summary by Sections Allegations - Robbins LLP is investigating claims that Avis Budget failed to disclose a plan to significantly accelerate fleet rotations in Q4 2024, which shortened the useful life of most vehicles in the Americas segment, reducing their recoverable value [2]. - The company is expected to recognize billions in impairment charges and incur substantial losses, negatively impacting its financial results and overstating its business prospects [2]. Financial Results - On February 11, 2025, Avis Budget reported disappointing financial results for Q4 and full year 2024, including a loss of $1.96 billion, or $55.66 per share, compared to a profit of $259 million, or $7.10 per share, in the same period the previous year [3]. - The loss was attributed to a change in strategy that resulted in a one-time non-cash impairment of $2.3 billion and additional non-cash charges of $180 million [3]. - Following the announcement, Avis Budget's stock price fell by $6.12 per share, nearly 7%, closing at $83.59 per share [3]. Class Action Participation - Shareholders interested in serving as lead plaintiffs must file their papers by June 24, 2025, but participation is not required to be eligible for recovery [4].

Core Viewpoint - A class action lawsuit has been filed against Avis Budget Group, Inc. and certain officers for alleged violations of federal securities laws during the Class Period from February 16, 2024, to February 10, 2025, seeking damages for misleading statements regarding the company's business and operations [1][6]. Group 1: Lawsuit Details - The lawsuit is filed in the United States District Court for the District of New Jersey, representing all individuals and entities that purchased Avis Budget securities during the specified Class Period [1]. - Investors have until June 24, 2025, to request appointment as Lead Plaintiff for the class [2]. Group 2: Company Overview - Avis Budget Group provides car and truck rentals, car sharing, and ancillary services globally, operating brands such as Avis, Zipcar, and Budget, with a global rental fleet of approximately 695,000 vehicles in 2024 [3]. Group 3: Fleet Management and Strategy - Effective fleet management is crucial for Avis Budget's profitability, involving proper fleet rotation to avoid depreciation and high maintenance costs [4]. - Following the Covid-19 pandemic, Avis Budget slowed its fleet rotation due to higher vehicle prices, which allowed for better depreciation management [5]. - In Q4 2024, Avis Budget accelerated fleet rotations to adapt to normalizing vehicle prices, which led to a significant impairment charge and reduced the recoverable value of many vehicles [5][6]. Group 4: Financial Impact - Avis Budget reported a loss of $1.96 billion, or $55.66 per share, for Q4 2024, attributed to a one-time non-cash impairment of $2.3 billion and other charges [7]. - The company's CEO announced a transition to a Board Advisor role, with a new CEO taking over in July 2025, following the financial report [7]. Group 5: Market Reaction - Following the announcement of the financial results and the impairment charge, Avis Budget's stock price fell by $6.12 per share, or 6.82%, closing at $83.59 per share on February 11, 2025 [7].

NEW YORK, April 28, 2025 /PRNewswire/ -- Rosen Law Firm, a global investor rights law firm, announces the filing of a class action lawsuit on behalf of purchasers of securities of Avis Budget Group, Inc. (NASDAQ: CAR) between February 16, 2024 and February 10, 2025, both dates inclusive (the "Class Period"). A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than June 24, 2025. Attorney Advertising. Prior results do not guarantee a similar ...

LOS ANGELES, April 28, 2025 /PRNewswire/ -- The Schall Law Firm, a national shareholder rights litigation firm, reminds investors of a class action lawsuit against Avis Budget Group, Inc. ("Avis Budget" or "the Company") (NASDAQ: CAR) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.Investors who purchased the Company's securities between February 16, 2024 and February 10, 2025, inclusive (the "Cla ...

ATLANTA, April 28, 2025 (GLOBE NEWSWIRE) -- A shareholder class action lawsuit has been filed against Avis Budget Group, Inc. (“Avis Budget” or “the Company”) (NASDAQ: CAR). The lawsuit alleges that Defendants made materially false and misleading statements and/or failed to disclose material adverse information regarding the Company’s business, operations, and prospects, including allegations that: (i) Avis Budget crafted and implemented a plan to significantly accelerate its fleet rotation in the fourth qu ...

Investment Rating - The report assigns an "Overweight" (OW) rating to General Motors (GM) and Ford, while Tesla and Rivian are rated "Underweight" (UW) [6][7]. Core Insights - The automotive industry is experiencing varied performance metrics across different companies, with GM and Ford showing potential upside in their stock prices, while Tesla and Rivian face significant downside risks [6][7]. - The report highlights the importance of valuation metrics such as EV/EBITDA, P/E ratios, and sales growth projections for assessing investment opportunities within the automotive sector [6][22]. Global Auto OEMs Investment Comparables - General Motors (GM) has a current price of $44.57 with a market cap of $43.067 billion and a target price of $53.00, indicating a 19% upside potential [6]. - Ford (F) is priced at $9.63 with a market cap of $38.294 billion and a target price of $11.00, representing a 14% upside [6]. - Ferrari (RACE) is valued at $439.97 with a target price of $460.00, showing a 5% upside [6]. - Tesla (TSLA) is currently priced at $241.37 with a target price of $120.00, indicating a -50% downside [6]. - Rivian (RIVN) has a price of $11.60 with a target price of $11.00, reflecting a -5% downside [6]. Global Auto Parts Suppliers Valuation Metrics - The average EV/EBITDA for US auto parts suppliers is projected at 1.8x for 2024, with a corresponding EBITDA margin of 12% [22]. - Aptiv (APTV) is rated "Overweight" with a current price of $51.71 and a target price of $102, indicating a 97% upside [22]. - Borg Warner (BWA) is rated "Overweight" with a price of $26.45 and a target price of $46, representing a 74% upside [22]. - Lear Corp (LEA) is rated "Overweight" with a price of $79.42 and a target price of $140, indicating a 76% upside [22]. Performance Metrics - The report indicates that the average revenue CAGR for US auto parts suppliers is projected to be 2% from 2023 to 2025 [74]. - The EBITDA margin for US auto parts suppliers is expected to be around 12% in 2025, with some companies showing higher margins [74][83]. - The report also highlights the financial returns of various suppliers, with some companies achieving significant returns on invested capital (ROIC) [54][56].

Core Viewpoint - The Avis Budget class action lawsuit alleges that the company and its executives made misleading statements regarding the financial health and operational strategies, leading to significant financial losses and impairment charges [3][4]. Group 1: Lawsuit Details - The class action lawsuit seeks to represent purchasers of Avis Budget Group, Inc. securities from February 16, 2024, to February 10, 2025 [1]. - The lawsuit is titled Merriam v. Avis Budget Group, Inc., and is filed in the District of New Jersey [1]. - The allegations include violations of the Securities Exchange Act of 1934 by Avis Budget and its top executives [1][3]. Group 2: Financial Impact - Avis Budget reported a loss of $1.96 billion, or $55.66 per share, for the fourth quarter of 2024, compared to a profit of $259 million, or $7.10 per share, for the same period in the previous year [4]. - The financial results were attributed to a strategy change that accelerated fleet rotations, resulting in a one-time non-cash impairment of $2.3 billion and additional non-cash charges of $180 million [4]. - Following the announcement of these results, Avis Budget's stock price fell nearly 7% [4]. Group 3: Management Changes - The lawsuit notes that 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 [4]. Group 4: Legal Representation - Robbins Geller Rudman & Dowd LLP is representing investors in the class action lawsuit, known for securing significant monetary relief for investors in securities fraud cases [6]. - The firm has recovered over $2.5 billion for investors in 2024 alone, highlighting its prominence in the field [6].

Core Points - Avis Budget Group, Inc. plans to report its first quarter 2025 results after market close on May 7th, 2025 [1] - A conference call for institutional investors will be held on May 8th, 2025 at 8:30 a.m. Eastern time to discuss the results [1] Company Overview - Avis Budget Group is a leading global provider of mobility solutions with approximately 10,250 rental locations in around 180 countries [3] - The company operates its car rental offices primarily in North America, Europe, and Australasia, while using licensees in other regions [3] - The Zipcar brand, part of Avis Budget Group, is recognized as the world's leading car sharing network [3]