Avis Budget Group, Inc. Investor Notice: Robbins LLP Reminds Stockholders of the Securities Fraud Class Action Lawsuit Against CAR

Core Viewpoint - A class action 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]. Group 1: Allegations and Financial Impact - The complaint alleges 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]. - As a result of this strategy, Avis Budget was forced to recognize billions in impairment charges, leading to substantial losses and negatively impacting the company's financial results [2]. - On February 11, 2025, Avis Budget reported a loss of $1.96 billion, or $55.66 per share, for Q4 2024, compared to a profit of $259 million, or $7.10 per share, in the same period the previous year [3]. Group 2: Management Changes and Stock Reaction - The financial results announcement included the resignation of the CEO, with the Chief Transformation Officer set to take over the role [3]. - Following the announcement, Avis Budget's stock price fell by $6.12 per share, nearly 7%, closing at $83.59 per share on February 11, 2025 [3]. Group 3: Class Action Participation - Shareholders may be eligible to participate in the class action, with a deadline to file as lead plaintiff by June 24, 2025 [4]. - Shareholders do not need to participate in the case to be eligible for recovery, and can remain absent class members if they choose [4].