{"success":true,"data":{"pressRelease":{"id":"109751","rtpr_id":"nBwT0dX2a","ticker":"CAR","exchange":"NASDAQ","all_tickers":["CAR"],"title":"Law Offices of Frank R. Cruz Encourages Avis Budget Group, Inc. (CAR) Shareholders To Inquire About Securities Fraud Class Action","author":"Business Wire","published_at":"2026-08-05T15:03:00.073Z","article_body":"Law Offices of Frank R. Cruz Encourages Avis Budget Group, Inc. (CAR)\nShareholders To Inquire About Securities Fraud Class Action\n\nThe Law Offices of Frank R. Cruz\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fwww.frankcruzlaw.com%2F&esheet=54582901&newsitemid=20260805486047&lan=en-US&anchor=The+Law+Offices+of+Frank+R.+Cruz&index=1&md5=672cecf2b719d14e3ca6e10333a2cada)\nannounces that a class action lawsuit has been filed on behalf of shareholders\nwho purchased or otherwise acquired Avis Budget Group, Inc. (“Avis” or the\n“Company”) (NASDAQ: CAR\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Ffinance.yahoo.com%2Fquote%2Fcar&esheet=54582901&newsitemid=20260805486047&lan=en-US&anchor=CAR&index=2&md5=fcb4127d1cd68b004363d295a6a3d6b7)\n) common stock between February 20, 2025 and April 21, 2026, inclusive (the\n“Class Period”). Avis Budget Group, Inc. investors have until September\n29, 2026 to file a lead plaintiff motion.\n\nIF YOU SUFFERED A LOSS ON YOUR AVIS BUDGET GROUP INVESTMENTS, CLICK HERE\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fwww.frankcruzlaw.com%2Fcases%2Favis-budget-group-inc%2F&esheet=54582901&newsitemid=20260805486047&lan=en-US&anchor=HERE&index=3&md5=51602238b129f022b4c11ec9499d0c4d)\nTO SUBMIT A CLAIM TO POTENTIALLY RECOVER YOUR LOSSES IN THE ONGOING SECURITIES\nFRAUD LAWSUIT.\n\nYou can also contact the Law Offices of Frank R. Cruz to discuss your legal\nrights by email at info@frankcruzlaw.com (mailto:info@frankcruzlaw.com) , by\ntelephone at (310) 914-5007, or visit our website at www.frankcruzlaw.com\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fwww.frankcruzlaw.com&esheet=54582901&newsitemid=20260805486047&lan=en-US&anchor=www.frankcruzlaw.com&index=4&md5=218d57f67dd465cc30483c02b86908e2)\n.\n\nWhat Happened?\n\nThe complaint alleges that Defendants Pentwater Capital Management LP\n(“Pentwater”) and Matthew Halbower (“Halbower”, collectively with\nPentwater, “Defendants”), enacted a scheme to manipulate the market for\nAvis securities by taking advantage of Pentwater's position as one of Avis's\nlargest shareholders. Specifically, Defendants' purchasing of Avis stock\nduring the Class Period triggered a rapid surge in the Company's stock price\ncaused by short sellers buying back shares to cut their losses, thereby\nfueling further price spikes (known as a “short squeeze”) which served to\nsubstantially increase the value of Pentwater's holdings of Avis stock.\n\nBetween April 1, 2026 and April 22, 2026, the price of Avis stock climbed from\na close of $99.90 per share on March 20, 2026, to $713.97 per share on April\n21, 2026, an increase of over 614%.\n\nThen, on April 22, 2026, Avis’s share price plummeted by $270.03 per share,\nor 37.82%, in a single trading session, to close at $443.94 per share on April\n22, 2026. Over the following trading sessions, Avis’s share price only\ncontinued its slide, ultimately falling by a total of $531.97 per share from\nits April 22 closing price, or 74.51%, before closing at $182.005 per share on\nApril 28, 2026.\n\nOne day later, on April 29, 2026, the Company held an earnings call, during\nwhich Avis CEO Brian Choi told investors that Pentwater had sold 4.3 million\nshares of Avis stock between April 22 and 23, 2026, for sales proceeds of\n$1.75 billion.\n\nSubsequently, on June 18, 2026, Avis disclosed in a filing with the SEC that\nPentwater had agreed to pay Avis $650 million to settle alleged violations of\nSection 16(b) of the Exchange Act, a “short-swing profits” rule that\nrequires owners of more than 10% of a class of publicly traded equity\nsecurities to disgorge any profits from trading in the issuer’s equity\nsecurities within a period of less than six months.\n\nOn June 29, 2026, Avis filed a heavily redacted copy of a complaint,\noriginally filed under seal, against Pentwater, Halbower, and a series of\napparently related entities, setting forth Avis’s allegations.\n\nWhat Is The Lawsuit About?\n\nThe complaint filed in this class action alleges that between February 20,\n2025 and April 21, 2026, Defendants made materially false and/or misleading\nstatements, as well as failed to disclose material adverse facts about the\nCompany’s business, operations, and prospects. Specifically, Defendants\nfailed to disclose to investors that: (1) the Company’s stock was being\nmanipulated through deceptive practices; (2) the Company’s market price was\ntherefore trading above its true value; and (3) as a result, Defendants’\npositive statements about the Company’s business, operations, and prospects\nwere materially misleading and/or lacked a reasonable basis at all relevant\ntimes.\n\nContact Us To Participate or Learn More:\n\nIf you purchased Avis securities, wish to learn more about this action, or\nhave any questions concerning this announcement or your rights or interests\nwith respect to these matters, please click HERE\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fwww.frankcruzlaw.com%2Fcases%2Favis-budget-group-inc%2F&esheet=54582901&newsitemid=20260805486047&lan=en-US&anchor=HERE&index=5&md5=d477b48e53a41ad0e9c1bf7b1729f18f)\nor contact us at:\n\nLaw Offices of Frank R. Cruz\n2121 Avenue of the Stars, Suite 800\nCentury City, CA 90067\nTelephone: 310-914-5007\nEmail: info@frankcruzlaw.com (mailto:info@frankcruzlaw.com) \nVisit our website at: www.frankcruzlaw.com\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.frankcruzlaw.com&esheet=54582901&newsitemid=20260805486047&lan=en-US&anchor=www.frankcruzlaw.com&index=6&md5=f69b24eb7ee441cee3991a4825ae1d08)\n\nThis press release may be considered Attorney Advertising in some\njurisdictions under the applicable law and ethical rules.\n\n\n\nView source version on businesswire.com:\nhttps://www.businesswire.com/news/home/20260805486047/en/\n(https://www.businesswire.com/news/home/20260805486047/en/)\n\nLaw Offices of Frank R. Cruz\n2121 Avenue of the Stars, Suite 800\nCentury City, CA 90067\nTelephone: 310-914-5007\nEmail: info@frankcruzlaw.com (mailto:info@frankcruzlaw.com) \nVisit our website at: www.frankcruzlaw.com\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.frankcruzlaw.com&esheet=54295058&newsitemid=20260805486047&lan=en-US&anchor=www.frankcruzlaw.com&index=7&md5=f77d88427268693f5cc8e0e9b38d3998)\n\n\nCopyright Business Wire 2026","article_body_html":"","raw_payload":{"data":{"id":"nBwT0dX2a","title":"Law Offices of Frank R. Cruz Encourages Avis Budget Group, Inc. (CAR) Shareholders To Inquire About Securities Fraud Class Action","author":"Business Wire","ticker":"CAR","created":"2026-08-05T15:03:00.073Z","tickers":["CAR"],"exchange":"NASDAQ","article_body":"Law Offices of Frank R. Cruz Encourages Avis Budget Group, Inc. (CAR)\nShareholders To Inquire About Securities Fraud Class Action\n\nThe Law Offices of Frank R. Cruz\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fwww.frankcruzlaw.com%2F&esheet=54582901&newsitemid=20260805486047&lan=en-US&anchor=The+Law+Offices+of+Frank+R.+Cruz&index=1&md5=672cecf2b719d14e3ca6e10333a2cada)\nannounces that a class action lawsuit has been filed on behalf of shareholders\nwho purchased or otherwise acquired Avis Budget Group, Inc. (“Avis” or the\n“Company”) (NASDAQ: CAR\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Ffinance.yahoo.com%2Fquote%2Fcar&esheet=54582901&newsitemid=20260805486047&lan=en-US&anchor=CAR&index=2&md5=fcb4127d1cd68b004363d295a6a3d6b7)\n) common stock between February 20, 2025 and April 21, 2026, inclusive (the\n“Class Period”). Avis Budget Group, Inc. investors have until September\n29, 2026 to file a lead plaintiff motion.\n\nIF YOU SUFFERED A LOSS ON YOUR AVIS BUDGET GROUP INVESTMENTS, CLICK HERE\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fwww.frankcruzlaw.com%2Fcases%2Favis-budget-group-inc%2F&esheet=54582901&newsitemid=20260805486047&lan=en-US&anchor=HERE&index=3&md5=51602238b129f022b4c11ec9499d0c4d)\nTO SUBMIT A CLAIM TO POTENTIALLY RECOVER YOUR LOSSES IN THE ONGOING SECURITIES\nFRAUD LAWSUIT.\n\nYou can also contact the Law Offices of Frank R. Cruz to discuss your legal\nrights by email at info@frankcruzlaw.com (mailto:info@frankcruzlaw.com) , by\ntelephone at (310) 914-5007, or visit our website at www.frankcruzlaw.com\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fwww.frankcruzlaw.com&esheet=54582901&newsitemid=20260805486047&lan=en-US&anchor=www.frankcruzlaw.com&index=4&md5=218d57f67dd465cc30483c02b86908e2)\n.\n\nWhat Happened?\n\nThe complaint alleges that Defendants Pentwater Capital Management LP\n(“Pentwater”) and Matthew Halbower (“Halbower”, collectively with\nPentwater, “Defendants”), enacted a scheme to manipulate the market for\nAvis securities by taking advantage of Pentwater's position as one of Avis's\nlargest shareholders. Specifically, Defendants' purchasing of Avis stock\nduring the Class Period triggered a rapid surge in the Company's stock price\ncaused by short sellers buying back shares to cut their losses, thereby\nfueling further price spikes (known as a “short squeeze”) which served to\nsubstantially increase the value of Pentwater's holdings of Avis stock.\n\nBetween April 1, 2026 and April 22, 2026, the price of Avis stock climbed from\na close of $99.90 per share on March 20, 2026, to $713.97 per share on April\n21, 2026, an increase of over 614%.\n\nThen, on April 22, 2026, Avis’s share price plummeted by $270.03 per share,\nor 37.82%, in a single trading session, to close at $443.94 per share on April\n22, 2026. Over the following trading sessions, Avis’s share price only\ncontinued its slide, ultimately falling by a total of $531.97 per share from\nits April 22 closing price, or 74.51%, before closing at $182.005 per share on\nApril 28, 2026.\n\nOne day later, on April 29, 2026, the Company held an earnings call, during\nwhich Avis CEO Brian Choi told investors that Pentwater had sold 4.3 million\nshares of Avis stock between April 22 and 23, 2026, for sales proceeds of\n$1.75 billion.\n\nSubsequently, on June 18, 2026, Avis disclosed in a filing with the SEC that\nPentwater had agreed to pay Avis $650 million to settle alleged violations of\nSection 16(b) of the Exchange Act, a “short-swing profits” rule that\nrequires owners of more than 10% of a class of publicly traded equity\nsecurities to disgorge any profits from trading in the issuer’s equity\nsecurities within a period of less than six months.\n\nOn June 29, 2026, Avis filed a heavily redacted copy of a complaint,\noriginally filed under seal, against Pentwater, Halbower, and a series of\napparently related entities, setting forth Avis’s allegations.\n\nWhat Is The Lawsuit About?\n\nThe complaint filed in this class action alleges that between February 20,\n2025 and April 21, 2026, Defendants made materially false and/or misleading\nstatements, as well as failed to disclose material adverse facts about the\nCompany’s business, operations, and prospects. Specifically, Defendants\nfailed to disclose to investors that: (1) the Company’s stock was being\nmanipulated through deceptive practices; (2) the Company’s market price was\ntherefore trading above its true value; and (3) as a result, Defendants’\npositive statements about the Company’s business, operations, and prospects\nwere materially misleading and/or lacked a reasonable basis at all relevant\ntimes.\n\nContact Us To Participate or Learn More:\n\nIf you purchased Avis securities, wish to learn more about this action, or\nhave any questions concerning this announcement or your rights or interests\nwith respect to these matters, please click HERE\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fwww.frankcruzlaw.com%2Fcases%2Favis-budget-group-inc%2F&esheet=54582901&newsitemid=20260805486047&lan=en-US&anchor=HERE&index=5&md5=d477b48e53a41ad0e9c1bf7b1729f18f)\nor contact us at:\n\nLaw Offices of Frank R. Cruz\n2121 Avenue of the Stars, Suite 800\nCentury City, CA 90067\nTelephone: 310-914-5007\nEmail: info@frankcruzlaw.com (mailto:info@frankcruzlaw.com) \nVisit our website at: www.frankcruzlaw.com\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.frankcruzlaw.com&esheet=54582901&newsitemid=20260805486047&lan=en-US&anchor=www.frankcruzlaw.com&index=6&md5=f69b24eb7ee441cee3991a4825ae1d08)\n\nThis press release may be considered Attorney Advertising in some\njurisdictions under the applicable law and ethical rules.\n\n\n\nView source version on businesswire.com:\nhttps://www.businesswire.com/news/home/20260805486047/en/\n(https://www.businesswire.com/news/home/20260805486047/en/)\n\nLaw Offices of Frank R. Cruz\n2121 Avenue of the Stars, Suite 800\nCentury City, CA 90067\nTelephone: 310-914-5007\nEmail: info@frankcruzlaw.com (mailto:info@frankcruzlaw.com) \nVisit our website at: www.frankcruzlaw.com\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.frankcruzlaw.com&esheet=54295058&newsitemid=20260805486047&lan=en-US&anchor=www.frankcruzlaw.com&index=7&md5=f77d88427268693f5cc8e0e9b38d3998)\n\n\nCopyright Business Wire 2026"},"type":"article","timestamp":"2026-08-05T15:03:00.13314917Z","server_sent_at_ms":1785942180133},"received_at":"2026-08-05T15:03:00.185Z","source_url":"https://www.businesswire.com/news/home/20260805486047/en/"},"analysis":{"id":"98755","press_release_id":"109751","analysis_json":{"industry":{"label":"Specialized Consumer Services","sector":"Consumer Discretionary"},"redFlags":[],"eventType":"legal_litigation","narrative":"Law Offices of Frank R. Cruz issued a solicitation encouraging Avis Budget Group investors to act as lead plaintiffs in a class action lawsuit regarding alleged securities fraud.\n\nThe complaint alleges that Pentwater Capital manipulated Avis stock prices via a short squeeze between Feb 2025 and April 2026, before selling 4.3 million shares.\n\nAvis shareholders have until September 29, 2026, to file a lead plaintiff motion.","sentiment":"neutral","agentHooks":{"shouldPost":false,"suggestedAngle":"Plaintiff-firm solicitation -- suppress."},"keyFigures":{"customDimensions":{"class_period_end":"2026-04-21","peak_share_price":713.97,"settlement_amount":650000000,"class_period_start":"2025-02-20","insider_shares_sold":4300000,"insider_sale_proceeds":1750000000,"lead_plaintiff_deadline":"2026-09-29"}},"quotedText":"","namedEntities":{"people":[{"name":"Brian Choi","role":"CEO"},{"name":"Matthew Halbower"}],"products":[],"companies":[{"name":"Avis Budget Group, Inc.","ticker":"CAR"},{"name":"Pentwater Capital Management LP","relationship":"defendant"},{"name":"Law Offices of Frank R. Cruz","relationship":"plaintiff law firm"}],"dollarAmounts":[{"amount":"$650 million","context":"settlement payment to Avis for alleged Section 16(b) violations"},{"amount":"$1.75 billion","context":"proceeds from Pentwater's sale of 4.3 million Avis shares"},{"amount":"$99.90","context":"Avis closing price on March 20, 2026"},{"amount":"$713.97","context":"Avis closing price on April 21, 2026"},{"amount":"$443.94","context":"Avis closing price on April 22, 2026"},{"amount":"$182.005","context":"Avis closing price on April 28, 2026"}]},"materialImpact":{"score":1,"reasoning":"Plaintiff law-firm solicitation issued by Law Offices of Frank R. Cruz. This is a marketing notice seeking lead plaintiffs, not a disclosure from the company. While the release references a $650 million settlement involving a related party in the background narrative, the event itself is a routine class-action solicitation."},"tickerRelevance":{"others":[],"primary":"CAR"},"globalImportance":15,"audienceRelevance":15,"eventTypeSecondary":[],"importanceComponents":{"tickerTier":"mid-cap","eventGravity":"law-firm-solicitation","issuerAuthored":false}},"event_type":"legal_litigation","event_type_secondary":null,"sentiment":"neutral","material_impact_score":1,"narrative":"Law Offices of Frank R. Cruz issued a solicitation encouraging Avis Budget Group investors to act as lead plaintiffs in a class action lawsuit regarding alleged securities fraud.\n\nThe complaint alleges that Pentwater Capital manipulated Avis stock prices via a short squeeze between Feb 2025 and April 2026, before selling 4.3 million shares.\n\nAvis shareholders have until September 29, 2026, to file a lead plaintiff motion.","key_figures":{"customDimensions":{"class_period_end":"2026-04-21","peak_share_price":713.97,"settlement_amount":650000000,"class_period_start":"2025-02-20","insider_shares_sold":4300000,"insider_sale_proceeds":1750000000,"lead_plaintiff_deadline":"2026-09-29"}},"named_entities":{"people":[{"name":"Brian Choi","role":"CEO"},{"name":"Matthew Halbower"}],"products":[],"companies":[{"name":"Avis Budget Group, Inc.","ticker":"CAR"},{"name":"Pentwater Capital Management LP","relationship":"defendant"},{"name":"Law Offices of Frank R. Cruz","relationship":"plaintiff law firm"}],"dollarAmounts":[{"amount":"$650 million","context":"settlement payment to Avis for alleged Section 16(b) violations"},{"amount":"$1.75 billion","context":"proceeds from Pentwater's sale of 4.3 million Avis shares"},{"amount":"$99.90","context":"Avis closing price on March 20, 2026"},{"amount":"$713.97","context":"Avis closing price on April 21, 2026"},{"amount":"$443.94","context":"Avis closing price on April 22, 2026"},{"amount":"$182.005","context":"Avis closing price on April 28, 2026"}]},"model_name":"glm-4.7","prompt_hash":"sha256:727b4b9429a443af","schema_hash":"sha256:05005c02d9cffac9","created_at":"2026-08-05T20:57:06.108Z","global_importance":15,"audience_relevance":15,"importance_components":{"tickerTier":"mid-cap","eventGravity":"law-firm-solicitation","issuerAuthored":false}},"durationMs":106685,"modelName":"glm-4.7"}}