Deadline Alert: Avis Budget Group, Inc. (CAR) Investors Who Lost Money Urged To Contact Glancy Prongay & Murray LLP About Securities Fraud Lawsuit

Core Viewpoint - Avis Budget Group, Inc. is facing a class action lawsuit due to significant financial losses reported for Q4 2024, attributed to a strategic shift in fleet rotations that led to substantial impairment charges and misleading statements made to investors [2][3]. Financial Performance - For Q4 2024, Avis reported a loss of $1.96 billion, equating to $55.66 per share, a stark contrast to a profit of $259 million, or $7.10 per share, in the same quarter of the previous year [2]. - The financial loss was primarily due to a one-time non-cash impairment of $2.3 billion and additional non-cash charges of $180 million resulting from the accelerated fleet rotation strategy [2]. Strategic Changes - The company implemented a plan to significantly accelerate fleet rotations, which shortened the useful life of most vehicles in the Americas segment, thereby reducing their recoverable value [3]. - The transition of the CEO to a Board Advisor role was also announced, indicating potential leadership changes within the company [2]. Legal Proceedings - A class action lawsuit has been filed on behalf of investors who acquired Avis securities between February 16, 2024, and February 10, 2025, with a deadline of June 24, 2025, to file a lead plaintiff motion [1][4]. - The lawsuit alleges that the company made materially false and misleading statements regarding its business operations and financial prospects during the class period [3].