Avis Budget Group, Inc. Investors: Please contact the Portnoy Law Firm to recover your losses. June 24, 2025 Deadline to file Lead Plaintiff Motion

Core Viewpoint - Avis Budget Group, Inc. is facing a class action lawsuit due to alleged misleading statements and undisclosed information regarding its fleet rotation strategy, which has led to significant financial losses and impairment charges [2][3]. Group 1: Class Action Details - The class action lawsuit represents investors who purchased Avis securities between February 16, 2024, and February 10, 2025 [1]. - Investors are encouraged to contact the Portnoy Law Firm for a complimentary case evaluation and to discuss their legal rights [2]. Group 2: Allegations Against Avis Budget - The lawsuit claims that Avis Budget executed a plan to aggressively accelerate fleet rotation, which shortened the useful life of vehicles in the Americas segment, reducing their recoverable value [2]. - As a result of this strategy, Avis Budget is expected to recognize billions of dollars in impairment charges and face substantial losses [2]. - The financial performance of Avis Budget was significantly negatively impacted, leading to an overstated financial condition and business outlook [2]. Group 3: Financial Results and Leadership Changes - On February 11, 2025, Avis Budget reported a quarterly loss of $1.96 billion, or $55.66 per share, compared to a profit of $259 million, or $7.10 per share, for the same period the previous year [3]. - The loss was attributed to a change in strategy regarding fleet rotations, resulting in a one-time non-cash impairment of $2.3 billion and additional non-cash charges of $180 million [3]. - Following the announcement of these results, Avis Budget's stock price dropped nearly 7% [3]. - The CEO, Joseph A. Ferraro, is set to step down, transitioning to a Board Advisor role, with Brian Choi taking over as CEO on July 1, 2025 [3].