CAR Investors Have the Opportunity to Lead the Avis Budget Group Securities Fraud Lawsuit with Faruqi & Faruqi, LLP

Core Viewpoint - Faruqi & Faruqi, LLP is investigating potential claims against Avis Budget Group, Inc. due to allegations of violations of federal securities laws related to misleading statements and undisclosed financial impacts from a strategic change in fleet rotation [2][4]. Group 1: Legal Investigation and Class Action - A federal securities class action has been filed against Avis Budget Group, with a deadline of June 24, 2025, for investors to seek the role of lead plaintiff [2]. - The law firm encourages investors who suffered losses in Avis to contact them directly to discuss their legal rights [1][8]. Group 2: Financial Performance and Impairment Charges - Avis Budget reported a significant loss of $1.96 billion, or$55.66 per share, for the fourth quarter of 2024, compared to a profit of $259 million, or$7.10 per share, for the same period in the previous year [5]. - The loss was attributed to a strategic decision to accelerate fleet rotations, leading to a one-time non-cash impairment charge of $2.3 billion and additional non-cash charges of$180 million [5]. Group 3: Management Changes - Following the financial results announcement, CEO Joseph A. Ferraro will transition to a Board Advisor role effective June 30, 2025, with Brian Choi taking over as CEO on July 1, 2025 [6]. - The stock price of Avis Budget fell by $6.12 per share, or 6.82$83.59 per share on February 11, 2025, following the announcement [6].