| COMPANY |
Avis Budget Group, Inc. |
| COURT |
United States District Court for the District of New Jersey |
| CASE NUMBER |
2:25-cv-03332 |
| JUDGE |
The Hon. Michael Etan Farbiarz |
| CLASS PERIOD |
February 16, 2024 through February 10, 2025 |
| SECURITY TYPE |
Securities |
LEAD PLAINTIFF DEADLINE IS JUNE 24, 2025.
If you have suffered losses and would like to discuss your rights, please fill out this form or you may contact Jonathan Naji, Esq. at (484) 270-1453 or via e-mail at info@ktmc.com.
Case Background:
A class action lawsuit was filed on behalf of those who purchased or otherwise acquired Avis Budget Group, Inc. (“Avis Budget”) (NASDAQ: CAR) securities between February 16, 2024, and February 10, 2025, inclusive (the “Class Period”).
The complaint alleges that, throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material facts about the company’s business, operations, and prospects. Specifically, Defendants misrepresented and/or failed to disclose that: (1) Avis Budget significantly accelerated its fleet rotation in the fourth quarter of 2024; (2) the acceleration shortened the useful life of the majority of the company’s vehicles in the Americas segment, thereby reducing their recoverable value and forcing Avis Budget to recognize billions of dollars in impairment charges and incur substantial losses; (3) the impairment charge, which was not expected by investors, had a significant negative impact on the company’s financial results; and (4) as a result, Defendants’ statements about the company’s business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
What is a Lead Plaintiff?
A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member’s claim is typical of the claims of other class members, and that the class member will adequately represent the class. Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. Filling out the online form above or communicating with any counsel is not necessary to participate or share in any recovery achieved in this case. Any member of the purported class may move the court to serve as a lead plaintiff through counsel of his/her choice, or may choose to do nothing and remain an inactive class member.