According to the lawsuit, during the Class Period, defendants made false and/or misleading statements and/or failed to disclose that:
- Avis Budget crafted and implemented a plan to significantly accelerate its fleet rotation in the fourth quarter of 2024;
- the foregoing acceleration shortened the useful life of the majority of Avis Budget’s vehicles in the Americas segment, thereby reducing their recoverable value;
- as a result, Avis Budget would be forced to recognize billions of dollars in impairment charges and incur substantial losses;
- all the foregoing was likely to, and did, have a significant negative impact on Avis Budget’s financial results;
- accordingly, Avis Budget’s financial and/or business prospects were overstated; and
- as a result, defendants’ public statements were materially false and misleading at all relevant times.
No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
Attorney Advertising. Prior results do not guarantee a similar outcome.
