Avis Budget Group(CAR) Prnewswire·2025-05-16 09:45Core 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]