Avis Budget Group(CAR) Prnewswire·2025-05-09 09:45Core 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].