CAR ALERT: Securities Fraud Class Action Launched Against Avis Budget Group, Inc. – September 29, 2026 Deadline
Levi & Korsinsky, LLP announced that a securities class action has been filed against Avis Budget Group (NASDAQ: CAR) on behalf of investors, with a lead plaintiff deadline of September 29, 2026. The complaint alleges Pentwater Capital Management — then Avis' second-largest holder at roughly 8.4% of shares outstanding — engineered a short squeeze by accumulating shares and options, then sold approximately 4.3 million shares in late April 2026, realizing gains of about $1.75 billion. Per the release, Avis shares fell from a $713.97 close on April 21, 2026 to $145.75 by May 8, 2026, a decline of nearly 80% in just over two weeks.
Key figures
- Class period
- February 20, 2026 - April 21, 2026
- Realized gains
- $1.75 billion
- Close 2026 04 21
- 713.97
- Close 2026 04 23
- 229.14
- Close 2026 05 08
- 145.75
- Pentwater stake pct
- 8.4%
- Two day decline pct
- nearly 68%
- Decline from peak pct
- nearly 80%
- Shares sold april 2026
- 4.3 million
- Lead plaintiff deadline
- September 29, 2026
- Pentwater remaining stake pct
- 7.3%
- Pentwater shares held june 2025
- 2.95 million
AI analysis
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AI-generated analysis of a public disclosure. Not investment advice; verify against the original document.