A securities class action has been filed in the USDC — N.J. against Avis Budget Group, Inc. (CAR) (“Avis Budget” or the “Company”) on behalf of all persons and entities that purchased or otherwise acquired Avis Budget securities between February 5, 2024, and February 3, 2025, both dates inclusive (the “Class Period.

Avis Budget, together with its subsidiaries, provides car and truck rentals, car sharing, and ancillary products and services to businesses and consumers in the Americas, Europe, the Middle East and Africa, Asia, and Australasia. Among other services, the Company operates the Avis brand, which offers vehicle rental and other mobility solutions to commercial and leisure segments of the travel industry; the Zipcar brand, a car sharing network; and the Budget brand, a supplier of vehicle rental and other mobility solutions focused primarily on more value-conscious customers. According to the Company, its global rental fleet totaled approximately 695,000 vehicles in 2024.

The Complaint alleges that throughout the Class Period, the Defendants made materially false and misleading statements regarding the Company’s business, operations, and prospects. Specifically, 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 the Company’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 the Company’s financial results;

(5) 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, thereby harming investors.

If you purchased Avis Budget securities during the class period and would like to receive more information or join the action, please enter your contact information below for a FREE consultation and click “Submit Your Information”.

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