Pomerantz LLP Investigates Potential Securities Fraud Claims Against Avis Budget Group, Inc.
New York, NY – Pomerantz LLP, a leading securities law firm, is investigating potential securities fraud claims on behalf of investors of Avis Budget Group, Inc (“Avis Budget” or the “Company”) (NASDAQ: CAR).
The investigation concerns whether Avis Budget and certain of its officers and/or directors have engaged in securities fraud, breached their fiduciary duties, or violated other state or federal laws. Specifically, the investigation focuses on whether the Company and its executives made false and/or misleading statements and/or failed to disclose material adverse information to the market.
Background
Avis Budget is a leading global provider of vehicle rental services, with more than 11,000 locations in approximately 180 countries. The Company operates two primary brands: Avis and Budget.
Alleged Misrepresentations
The investigation focuses on certain statements made by Avis Budget between February 23, 2023, and October 26, 2024. During this period, Avis Budget issued a series of press releases and filings with the U.S. Securities and Exchange Commission (“SEC”) in which it made statements regarding its financial performance and business prospects. The investigation concerns whether these statements were false or misleading.
Impact on Investors
Investors who purchased or otherwise held Avis Budget securities during the relevant period may be able to recover their losses, including damages for any losses sustained in excess of their initial purchase price, as well as any losses resulting from the sale of their securities at artificially inflated prices. The investigation may lead to a securities class action lawsuit on behalf of these investors.
Potential Global Impact
The investigation into Avis Budget could have significant implications for the global vehicle rental industry, as well as the broader market for transportation and travel-related stocks. The outcome of the investigation could lead to increased scrutiny of other companies in the sector, as well as potential regulatory action.
Conclusion
Pomerantz LLP is committed to protecting the rights of investors, and the investigation into potential securities fraud claims against Avis Budget is no exception. The firm encourages investors who purchased or otherwise held Avis Budget securities during the relevant period to contact Danielle Peyton at [email protected] or 646-581-9980, ext. 167, for a consultation. The investigation is ongoing, and further information will be provided as it becomes available.
Investors are advised to closely monitor the developments in this investigation and consider their potential impact on their investment decisions. It is important for investors to be aware of the potential risks and uncertainties inherent in the investment of securities, particularly in the context of an ongoing investigation.
