SHAREHOLDER NOTICE: Faruqi & Faruqi, LLP Investigates Claims on Behalf of Investors of Avis Budget Group

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 significant financial losses [2][4]. Group 1: Legal Investigation and Class Action - The firm is reminding investors of the June 24, 2025 deadline to seek the role of lead plaintiff in a federal securities class action against Avis [2]. - Investors who suffered losses in Avis between February 16, 2024, and February 10, 2025, are encouraged to contact the firm to discuss their legal rights [1][2]. Group 2: Financial Performance and Impairment Charges - Avis Budget reported a 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 prior year [5]. - The loss was attributed to a strategic change that significantly accelerated fleet rotations, resulting in a one-time non-cash impairment 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, after the announcement [6]. Group 4: Allegations of Misleading Statements - The complaint alleges that Avis Budget and its executives made false and misleading statements regarding the company's fleet rotation strategy and its impact on financial results [4]. - It is claimed that the acceleration of fleet rotation shortened the useful life of vehicles, leading to billions in impairment charges and negatively affecting the company's financial outlook [4].