Avis Budget Group(US:CAR) Prnewswireยท2025-06-12 09:45Core Viewpoint - The Gross Law Firm has issued a notice to shareholders of Avis Budget Group, Inc. regarding a class action lawsuit alleging that the company made materially false and misleading statements during the class period from February 16, 2024, to February 10, 2025 [1] Group 1: Allegations Against Avis Budget Group - 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 [1] - This acceleration is claimed to have reduced the recoverable value of the vehicles, leading to billions of dollars in impairment charges and substantial losses for the company [1] - As a result, the financial and business prospects of Avis Budget were overstated, and the public statements made by the defendants were materially false and misleading [1] Group 2: Class Action Details - Shareholders who purchased shares of CAR during the specified class period are encouraged to register for the class action, with a deadline of June 24, 2025, to seek lead plaintiff status [2] - Once registered, shareholders will be enrolled in a portfolio monitoring software to receive updates throughout the case lifecycle [2] - Participation in the case incurs no cost or obligation for the shareholders [2] Group 3: About the Gross Law Firm - The Gross Law Firm is a nationally recognized class action law firm dedicated to protecting the rights of investors affected by deceit, fraud, and illegal business practices [3] - The firm aims to ensure companies adhere to responsible business practices and seeks recovery for investors who suffered losses due to misleading statements or omissions [3]