NEW YORK--(BUSINESS WIRE)--
Rosen Law Firm, a global investor rights law firm, announces that a shareholder filed a class action lawsuit on behalf of purchasers of securities of Avis Budget Group, Inc. (NASDAQ: CAR) between February 13, 2024 and February 10, 2025, inclusive (the “Class Period”). Avis Budget provides car and truck rentals, car sharing, and ancillary products and services.
For more information, submit a form, email attorney Phillip Kim, or give us a call at 866-767-3653.
The Allegations: Rosen Law Firm is Investigating the Allegations that Avis Budget Group, Inc. (NASDAQ: CAR) Misled Investors Regarding its Business Operations.
According to the lawsuit, during the Class Period, defendants made false and/or misleading statements and/or failed to disclose that: (1) Avis Budget crafted and implemented a plan to significantly accelerate its fleet rotation in the fourth quarter of 2024; (2) the foregoing acceleration shortened the useful life of the majority of Avis Budget’s vehicles in the Americas segment, thereby reducing their recoverable value; (3) as a result, Avis Budget would be forced to recognize billions of dollars in impairment charges and incur substantial losses; (4) all the foregoing was likely to, and did, have a significant negative impact on Avis Budget’s financial results; (5) accordingly, Avis Budget’s financial and/or business prospects were overstated; and (6) as a result, defendants’ public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
What Now: You may be eligible to participate in the class action against Avis Budget Group, Inc. Shareholders who want to serve as lead plaintiff for the class must file their motions with the court by June 24, 2025. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. You do not have to participate in the case to be eligible for a recovery. If you choose to take no action, you can remain an absent class member. For more information, click here.
All representation is on a contingency fee basis. Shareholders pay no fees or expenses.
About Rosen Law Firm: Some law firms issuing releases about this matter do not actually litigate securities class actions. Rosen Law Firm does. Rosen Law Firm is a recognized leader in shareholder rights litigation, dedicated to helping shareholders recover losses, improving corporate governance structures, and holding company executives accountable for their wrongdoing. Since its inception, Rosen Law Firm has obtained over $1 billion for shareholders.
Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.
Attorney Advertising. Prior results do not guarantee a similar outcome.
