Avis Budget Group Inc. Common Stock (NASDAQ: CAR)
46 Days left to seek lead plaintiff status.
The Avis Budget class action lawsuit alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose 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 Avis Budget’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 above was likely to, and did, have a significant negative impact on Avis Budget’s financial results; and (v) accordingly, Avis Budget’s financial and/or business prospects were overstated.