Shareholder Alert: Robbins LLP Informs Investors of the Avis Budget Group, Inc. Class Action Lawsuit

Core Viewpoint - A class action lawsuit has been filed against Avis Budget Group, Inc. for allegedly misleading investors regarding its strategy to accelerate fleet rotations, which led to significant financial losses and impairment charges [1][2]. Summary by Sections Allegations - Robbins LLP is investigating claims that Avis Budget failed to disclose a plan to significantly accelerate fleet rotations in Q4 2024, which shortened the useful life of most vehicles in the Americas segment, reducing their recoverable value [2]. - The company is expected to recognize billions in impairment charges and incur substantial losses, negatively impacting its financial results and overstating its business prospects [2]. Financial Results - On February 11, 2025, Avis Budget reported disappointing financial results for Q4 and full year 2024, including a loss of $1.96 billion, or$55.66 per share, compared to a profit of $259 million, or$7.10 per share, in the same period the previous year [3]. - The loss was attributed to a change in strategy that resulted in a one-time non-cash impairment of $2.3 billion and additional non-cash charges of$180 million [3]. - Following the announcement, Avis Budget's stock price fell by $6.12 per share, nearly 7$83.59 per share [3]. Class Action Participation - Shareholders interested in serving as lead plaintiffs must file their papers by June 24, 2025, but participation is not required to be eligible for recovery [4].