Core Viewpoint - Avis Budget Group, Inc. is facing allegations of issuing materially false and misleading statements regarding its fleet rotation plan, which has led to significant financial implications for the company [3]. Group 1: Allegations and Financial Impact - 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 [3]. - This acceleration resulted in the company being forced to recognize billions of dollars in impairment charges and incur substantial losses [3]. - The financial and business prospects of Avis Budget were overstated, leading to a significant negative impact on the company's financial results [3]. Group 2: Class Action Details - The class period for the allegations is from February 16, 2024, to February 10, 2025 [3]. - Shareholders who purchased shares during this period are encouraged to register for the class action, with a deadline of June 24, 2025, to seek lead plaintiff status [4]. - There is no cost or obligation for shareholders to participate in the case, and they will receive status updates through portfolio monitoring software [4].

Core Viewpoint - A class action securities lawsuit has been filed against Avis Budget Group, Inc. for alleged securities fraud affecting investors between February 16, 2024, and February 10, 2025 [1][2] Group 1: Allegations and Impact - 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 appointment as lead plaintiff, although participation in any recovery does not require this [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 strong track record in securities litigation, having secured hundreds of millions for shareholders over the past 20 years [4] - The firm has been recognized in ISS Securities Class Action Services' Top 50 Report for seven consecutive years as one of the leading securities litigation firms in the U.S. [4]

Core Viewpoint - Rosen Law Firm is reminding investors who purchased Avis Budget Group, Inc. securities during the specified Class Period of the upcoming lead plaintiff deadline for a class action lawsuit [1][3]. Group 1: Class Action Details - Investors who purchased Avis Budget securities between February 16, 2024, and February 10, 2025, may be entitled to compensation without any out-of-pocket fees through a contingency fee arrangement [2]. - A class action lawsuit has already been filed, and interested parties must move the Court to serve as lead plaintiff by June 24, 2025 [3]. Group 2: Legal Representation - The Rosen Law Firm emphasizes the importance of selecting qualified legal counsel with a successful track record in securities class actions, highlighting their own achievements in this area [4]. - The firm has recovered hundreds of millions of dollars for investors, including over $438 million in 2019 alone [4]. Group 3: Case Allegations - The lawsuit alleges that during the Class Period, Avis Budget made false and misleading statements regarding its fleet rotation plan, which negatively impacted the value of its vehicles and led to billions in impairment charges [5]. - The claims suggest that Avis Budget's financial and business prospects were overstated, resulting in investor damages when the true information became public [5].

Core Viewpoint - Avis Budget Group, Inc. is facing a class action securities lawsuit due to alleged securities fraud that negatively impacted investors between February 16, 2024, and February 10, 2025 [1][2]. Group 1: Allegations and Impact - The lawsuit claims that Avis Budget accelerated its fleet rotation plan in Q4 2024, which shortened the useful life of most vehicles in the Americas segment, leading to reduced recoverable value [2]. - As a result of the accelerated fleet rotation, Avis Budget is expected to recognize billions of dollars in impairment charges and incur substantial losses [2]. - The financial and business prospects of Avis Budget were allegedly 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, and there is no obligation to participate [3]. Group 3: Firm Background - Levi & Korsinsky, LLP has a strong track record in securities litigation, having secured hundreds of millions of dollars for shareholders over the past 20 years [4]. - The firm has been recognized in ISS Securities Class Action Services' Top 50 Report for seven consecutive years as one of the leading securities litigation firms in the United States [4].

Core Viewpoint - Faruqi & Faruqi, LLP is investigating potential claims against Avis Budget Group, Inc. due to allegations of violations of federal securities laws related to misleading statements and undisclosed financial impacts from a strategic change in fleet rotation [2][4]. Group 1: Legal Investigation and Class Action - A federal securities class action has been filed against Avis Budget Group, with a deadline of June 24, 2025, for investors to seek the role of lead plaintiff [2]. - The law firm encourages investors who suffered losses in Avis to contact them directly to discuss their legal rights [1][8]. Group 2: Financial Performance and Impairment Charges - Avis Budget reported a significant 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 [5]. - The loss was attributed to a strategic decision to accelerate fleet rotations, leading to a one-time non-cash impairment charge of $2.3 billion and additional non-cash charges of $180 million [5]. Group 3: Management Changes - Following the financial results announcement, 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 [6]. - The stock price of Avis Budget fell by $6.12 per share, or 6.82%, closing at $83.59 per share on February 11, 2025, following the announcement [6].

Core Viewpoint - Avis Budget Group, Inc. is facing a class action securities lawsuit due to alleged securities fraud that negatively impacted investors between February 16, 2024, and February 10, 2025 [1][2] Group 1: Allegations and Impact - 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 results of Avis Budget were significantly negatively impacted, and the company's financial and business prospects were overstated [2] Group 2: Legal Process and Participation - Investors who suffered losses during the relevant time frame have until June 24, 2025, to request to be appointed as 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 has a strong track record, having secured hundreds of millions of dollars for shareholders and being recognized as one of the top securities litigation firms in the U.S. for seven consecutive years [4]

Core Viewpoint - Avis Budget Group, Inc. is facing a class action securities lawsuit due to alleged securities fraud that occurred between February 16, 2024, and February 10, 2025 [1][2] Group 1: Allegations and Impact - The lawsuit claims that Avis Budget implemented a plan to significantly accelerate its fleet rotation in Q4 2024 [2] - This acceleration reportedly shortened the useful life of most vehicles in the Americas segment, leading to a reduction in their recoverable value [2] - As a consequence, Avis Budget is expected to recognize billions of dollars in impairment charges and incur substantial losses [2] - The financial results of Avis Budget were negatively impacted, and the company's financial and business prospects were overstated [2] - Public statements made by the defendants were materially false and misleading throughout the relevant period [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 [3] - Participation in the lawsuit does not require serving as a lead plaintiff, and there are no out-of-pocket costs for class members [3] Group 3: Firm Background - Levi & Korsinsky, LLP has a history of securing hundreds of millions of dollars for shareholders and has extensive expertise in complex securities litigation [4] - The firm has been recognized in ISS Securities Class Action Services' Top 50 Report for seven consecutive years as one of the leading securities litigation firms in the U.S. [4]

NEW YORK, May 15, 2025 /PRNewswire/ -- The Gross Law Firm issues the following notice to shareholders of Avis Budget Group, Inc. (NASDAQ: CAR).Shareholders who purchased shares of CAR during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointment. Appointment as lead plaintiff is not required to partake in any recovery.CONTACT US HERE:https://securitiesclasslaw.com/securities/avis-budget-loss-submission-form/?id=148439&from=4CLASS PERIOD: February 16, 2024 to ...

Core Insights - The article highlights the expertise of Eric, a lead portfolio manager at a major Canadian bank, focusing on real assets and financials [1] Group 1: Professional Background - Eric holds a Master's degree in Financial Economics from the University of Western Ontario and is a CFA charterholder, indicating a strong educational foundation in finance [1] - His specialization in real assets, financials, and insurance suggests a deep understanding of these sectors within the Canadian investment landscape [1]

Core Viewpoint - Avis Budget Group, Inc. has announced a private offering of $600 million in senior notes with an interest rate of 8.375%, which is a $100 million increase from the previously announced offering size [1] Group 1: Offering Details - The senior notes will mature on June 15, 2032, and the closing of the offering is expected on May 19, 2025, subject to customary closing conditions [1] - The notes will be issued at par and guaranteed on a senior unsecured basis by the company and certain U.S. subsidiaries [1] Group 2: Use of Proceeds - The net proceeds from the offering will be used for general corporate purposes, including repayment of indebtedness such as a floating rate term loan maturing in December 2025 and a portion of outstanding fleet debt [2] Group 3: Regulatory Information - The notes are being offered only to qualified institutional buyers under Rule 144A of the Securities Act and will not be registered under the Securities Act or other jurisdictions [3]