The Law Offices of Frank R. Cruz announces an investigation of Avis Budget Group, Inc. (“Avis” or the “Company”) (NASDAQ: CAR) on behalf of investors concerning the Company’s possible violations of federal securities laws.
IF YOU ARE AN INVESTOR WHO LOST MONEY ON AVIS BUDGET GROUP, INC. (CAR), CLICK HERE TO INQUIRE ABOUT POTENTIALLY PURSUING A CLAIM TO RECOVER YOUR LOSS.
What Is The Investigation About?
On February 11, 2025, Avis released its fourth quarter and full year 2024 financial results, reporting a loss of $1.96 billion, or $55.66 per share, for the quarter, compared to a profit of $259 million, or $7.10 per share, for the same period in the prior year due to “a change in strategy to significantly accelerate fleet rotations, which resulted in shortening the useful life of the majority of our vehicles in the Americas segment[,]” causing “a one-time non-cash impairment of $2.3 billion and other non-cash related charges of $180 million.” Additionally, the Company disclosed that its Chief Executive Officer would “transition from CEO to Board Advisor.”
On this news, Avis’s stock price fell $6.12, or 6.8%, to close at $83.59 per share on February 12, 2025, thereby injuring investors.
Contact Us To Participate or Learn More:
If you purchased Avis securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact us:
The Law Offices of Frank R. Cruz,
2121 Avenue of the Stars, Suite 800,
Century City, California 90067
Call us at: 310-914-5007
Email us at: info@frankcruzlaw.com
Visit our website at: www.frankcruzlaw.com.
Follow us for updates on Twitter at twitter.com/FRC_LAW.
If you inquire by email, please include your mailing address, telephone number, and number of shares purchased.
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View source version on businesswire.com: https://www.businesswire.com/news/home/20250429018302/en/
Contacts
The Law Offices of Frank R. Cruz, Los Angeles
Frank R. Cruz
310-914-5007
fcruz@frankcruzlaw.com
www.frankcruzlaw.com
