Avis Budget Group, Inc. (CAR) Class Action Lawsuit: Levi & Korsinsky Reminds Investors of September 29, 2026 Deadline
NEW YORK CITY, NY / ACCESS Newswire / September 11, 2026 /Levi & Korsinsky, LLP announces that a securities class action lawsuit has been filed on behalf of investors who purchased or otherwise acquired Avis Budget Group, Inc. (NASDAQ:CAR) securities.
If you suffered a loss on your Avis Budget Group, Inc. investment and would like to explore a potential recovery under the federal securities laws, Learn about Avis Budget Group, Inc. Class Action or contact Joseph E. Levi, Esq. via email at jlevi@levikorsinsky.com or call (212)363-7500 to speak to our team of experienced shareholder advocates.
THE LAWSUIT:A class action securities lawsuit was filed against Avis Budget Group, Inc. that seeks to recover losses of shareholders who were adversely affected by alleged securities fraud between February 20, 2026 and April 21, 2026.
CASE DETAILS:According to the complaint, Pentwater Capital Management LP ("Pentwater" or the "Investment Firm") was Avis ' second largest shareholder, holding 2.95 million shares, or approximately 8.4%, of Avis ' outstanding stock as of June 30, 2025. Defendants devised a plan to manipulate the market by buying up significant shares of Avis while it was being heavily shorted, generating a short squeeze. The resulting rapid price escalation would then force short sellers to close their positions by purchasing additional shares, compounding the upward pressure on the stock and allowing defendants to reap the benefits of Avis ' artificially increased share price. Defendants act of manipulation was to buy out a significant portion of Avis ' outstanding shares while further increasing its economic stake through additional put options and calls. Defendants did so despite no significant change to Avis ' fundamentals that would justify sharply increasing their stake in the Company.
On April 22 and 23, 2026, Pentwater finalized its scheme, selling a significant portion of the Avis shares it had acquired since February, approximately 4.3 million shares, realizing gains of about $1.75 billion. The stock price reacted in accord: from a closing price of $713.97 on April 21, 2026, to a closing price of $229.14 on April 23, 2026, the stock had collapsed by $484.83. Pentwater 's sharp stock sale had triggered a nearly 68% decline in Avis ' stock price in just two days.
By April 30, 2026, Pentwater had sold more than 5 million shares of Avis ' stock in only a month as indicated by a Schedule 13G/A filing from the Investment Firm. Pentwater divested its share down to only 7.3% of Avis ' holdings. Pentwater attested it now held approximately 2.59 million shares of Avis ' stock. In reaction to the filing, Avis ' stock price fell further to a closing price of $145.75 on May 8, 2026. The stock fell nearly $570 from its peak on April 21, 2026, a nearly 80% decline in stock price in just over two weeks.
WHAT 'S NEXT?If you purchased Avis Budget Group, Inc. stock during the relevant time frame - even if you still hold your shares, learn about your rights to seek a recovery. There is no cost or obligation to participate.
WHY LEVI & KORSINSKY:Over the past 20 years, Levi & Korsinsky LLP has established itself as a nationally-recognized securities litigation firm that has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. The firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services ' Top 50 Report as one of the top securities litigation firms in the United States. Attorney Advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 27th Floor
New York, NY 10004
jlevi@levikorsinsky.com
Tel: (212)363-7500
Fax: (212) 363-7171
SOURCE:Levi & Korsinsky, LLP
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