SAN DIEGO, April 30, 2025 (GLOBE NEWSWIRE) -- Robbins LLP reminds stockholders that a class action was filed on behalf of all persons and entities that purchased or otherwise acquired Avis Budget Group, Inc. (NASDAQ: CAR) securities between February 16, 2024 and February 10, 2025. Avis Budget, with its subsidiaries, provides car and truck rentals, car sharing, and ancillary products and services to businesses and consumers internationally. For more information, submit a form, email attorney Aaron Dumas, Jr. ...

Core Viewpoint - A class action lawsuit has been filed against Avis Budget Group, Inc. for allegedly misleading investors regarding its strategy to accelerate fleet rotations, which led to significant financial losses and impairment charges [1][2]. Summary by Sections Allegations - Robbins LLP is investigating claims that Avis Budget failed to disclose a plan to significantly accelerate fleet rotations in Q4 2024, which shortened the useful life of most vehicles in the Americas segment, reducing their recoverable value [2]. - The company is expected to recognize billions in impairment charges and incur substantial losses, negatively impacting its financial results and overstating its business prospects [2]. Financial Results - On February 11, 2025, Avis Budget reported disappointing financial results for Q4 and full year 2024, including a loss of $1.96 billion, or $55.66 per share, compared to a profit of $259 million, or $7.10 per share, in the same period the previous year [3]. - The loss was attributed to a change in strategy that resulted in a one-time non-cash impairment of $2.3 billion and additional non-cash charges of $180 million [3]. - Following the announcement, Avis Budget's stock price fell by $6.12 per share, nearly 7%, closing at $83.59 per share [3]. Class Action Participation - Shareholders interested in serving as lead plaintiffs must file their papers by June 24, 2025, but participation is not required to be eligible for recovery [4].

NEW YORK, April 28, 2025 /PRNewswire/ -- Pomerantz LLP announces that a class action lawsuit has been filed against Avis Budget Group, Inc. ("Avis Budget" or the "Company") (NASDAQ: CAR) and certain officers.  The class action, filed in the United States District Court for the District of New Jersey, and docketed under 25-cv-03332 , is on behalf of a class consisting of all persons and entities other than Defendants that purchased or otherwise acquired Avis Budget securities between February 16, 2024 and Fe ...