Avis Budget Group(US:CAR) Prnewswireยท2025-06-24 13:00Core Viewpoint - Avis Budget Group, Inc. is facing a class action securities lawsuit due to alleged securities fraud that occurred between February 13, 2024, and February 10, 2025, which has adversely affected investors [1][2]. Group 1: Allegations and Impact - The lawsuit claims 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, leading to reduced recoverable value [2]. - As a result of the accelerated fleet rotation, Avis Budget is expected to recognize billions of dollars in impairment charges and incur substantial losses, negatively impacting the company's financial results [2]. - The allegations suggest that the company's financial and business prospects were overstated, making the public statements materially false and misleading during the relevant period [2]. Group 2: Legal Process and Participation - Investors who suffered losses during the specified timeframe have until June 24, 2025, to request to be appointed as lead plaintiff, although participation in any recovery does not require serving as a lead plaintiff [3]. - Class members may be entitled to compensation without any out-of-pocket costs or fees, indicating no financial obligation to participate in the lawsuit [3]. Group 3: Firm Background - Levi & Korsinsky, LLP has a strong track record in securities litigation, having secured hundreds of millions of dollars for shareholders over the past 20 years and consistently ranking among the top securities litigation firms in the U.S. [4].