Avis Budget Group(US:CAR) Prnewswireยท2025-06-19 13:00Core Viewpoint - Avis Budget Group, Inc. is facing allegations of issuing materially false and misleading statements regarding its fleet rotation plan, which has led to significant financial implications for the company [1]. Group 1: Allegations and Financial Impact - 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 resulted in the company being forced to recognize billions of dollars in impairment charges and incur substantial losses [1]. - The financial and business prospects of Avis Budget were overstated, leading to a significant negative impact on the company's financial results [1]. Group 2: Class Action Details - The class period for the allegations is from February 16, 2024, to February 10, 2025, and shareholders are encouraged to register for the class action [1][2]. - The deadline for shareholders to seek lead plaintiff status is June 24, 2025, and there is no cost or obligation to participate in the case [2]. Group 3: Law Firm's Commitment - The Gross Law Firm is a nationally recognized class action law firm dedicated to protecting the rights of investors who have suffered due to deceit and illegal business practices [3]. - The firm aims to ensure companies adhere to responsible business practices and seeks recovery for investors affected by misleading statements [3].