Hagens Berman is broadening its investigation into Verra Mobility following the abrupt resignation of long-time CEO David Roberts and a securities class action tied to the loss of a key Avis Budget Group contract. The law firm disclosed the expanded probe on July 15, 2026, after Verra announced on June 1 that Roberts had stepped down after 12 years, with former Chief Transformation and Legal Officer Jon Keyser named interim President and CEO. The leadership shake-up comes after Verra revealed on May 26 that Avis had issued a termination notice effective September 2026, triggering a 70% single-day share price crash on May 27 that erased approximately $1.4 billion in market capitalization. A pending securities class action covering the period from February 24 to May 26, 2026, alleges Verra made false and misleading statements about the health of its relationship with Avis and the likelihood of a contract renewal. Hagens Berman is investigating whether the CEO departure is causally linked to the allegations and is urging investors with substantial losses or non-public information to come forward before the August 4 lead plaintiff deadline.
Verra Mobility CorpVerra lost a key Avis contract, causing a 70% share price crash and $1.4 billion loss, directly impacting its revenue and customer demand.
Avis Budget Group Inc