NEW ORLEANS, Aug. 07, 2026 (GLOBE NEWSWIRE) -- ClaimsFiler, a FREE shareholder information service, reminds investors that they have until September 29, 2026 to file lead plaintiff applications in a securities class action lawsuit against Avis Budget Group, Inc. (“Avis” or the “Company”) (NasdaqGS: CAR), if they purchased or otherwise acquired Avis securities (including those who bought Avis common stock to cover a short position) between February 20, 2025 and April 21, 2026, inclusive (the “Class Period”). This action is pending in the United States District Court for the Middle District of Florida.
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About the Lawsuit
Avis and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
According to the complaint, Defendants Pentwater and Halbower engaged in a scheme to manipulate the market for Avis securities. Pentwater, as one of Avis's largest shareholders — holding an approximate 51% total economic interest in the Company through stock and cash-settled swaps as of March 2026 — allegedly leveraged this position by aggressively purchasing Avis stock during the Class Period. This buying activity triggered unusual volatility and a short squeeze in Avis securities, meaning a rapid surge in the stock price as short sellers bought back shares to cover their losses, which in turn fueled further price increases. The result, according to the complaint, was a significant increase in the value of Pentwater's Avis holdings. Avis’s stock price reached a staggering high of $765.94 per share during intraday trading on April 21, an increase of approximately 419% over its $147.52 opening price on April 1, before closing at $713.97 per share. Then, over the following trading sessions, Avis’s share price collapsed by 74.51%, closing at $182.005 per share on April 28, 2026.
The case is Hakimian v. Pentwater Capital Management LP, et al., No. 26-cv-02275.
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