Avis Budget Group(CAR) Prnewswire·2025-05-12 09:45Core 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].