1. Avis Budget faces a class action lawsuit for alleged securities fraud. 2. Lawsuit claims false statements impacted cars' recoverable values and financial results. 3. Investors potentially eligible for compensation without upfront costs. 4. Claims suggest billions in impairment charges due to fleet rotation acceleration. 5. Investors have until June 2025 to join the class action.
The lawsuit details severe allegations, which typically lead to significant negative market reactions. Historical precedents show that companies embroiled in fraud allegations often face substantial drops in stock prices.
The lawsuit highlights major financial concerns, directly affecting investor perception and stock value. Companies involved in similar cases often experience drastic price adjustments.
Immediate legal challenges could undermine investor confidence and affect stock price quickly. Historical cases show swift impacts following news of litigation.
Levi & Korsinsky, LLP notifies investors in Avis Budget Group, Inc. ("Avis Budget" or the "Company") (NASDAQ: CAR) of a class action securities lawsuit.
The lawsuit seeks to recover losses on behalf of Avis Budget investors who were adversely affected by alleged securities fraud between February 16, 2024 and February 10, 2025. Follow the link below to get more information and be contacted by a member of our team:
Avis Budget Lawsuit Submission Form
CAR investors may also contact Joseph E. Levi, Esq. via email at [email protected] or by telephone at (212) 363-7500.
The filed complaint alleges that defendants made false statements and/or concealed that: (i) Avis Budget crafted and implemented a plan to significantly accelerate its fleet rotation in the fourth quarter of 2024; (ii) the foregoing acceleration shortened the useful life of the majority of the Company's vehicles in the Americas segment, thereby reducing their recoverable value; (iii) as a result, Avis Budget would be forced to recognize billions of dollars in impairment charges and incur substantial losses; (iv) all the foregoing was likely to, and did, have a significant negative impact on the Company's financial results; (v) accordingly, Avis Budget's financial and/or business prospects were overstated; and (vi) as a result, defendants' public statements were materially false and misleading at all relevant times.
If you suffered a loss in Avis Budget during the relevant time frame, you have until June 24, 2025 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
If you are a class member, you may be entitled to compensation without payment of any out-of-pocket costs or fees. There is no cost or obligation to participate.
Over the past 20 years, the team at Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. Our firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report as one of the top securities litigation firms in the United States.
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 17th Floor
New York, NY 10004
[email protected]
Tel: (212) 363-7500
Fax: (212) 363-7171
www.zlk.com
SOURCE Levi & Korsinsky, LLP