The Portnoy Law Firm has announced a class action lawsuit on behalf of Avis Budget Group investors who purchased securities between February 20, 2025 and April 21, 2026. The complaint alleges that Pentwater, one of Avis's largest shareholders with an approximate 51% total economic interest as of March 2026, engaged in a scheme to manipulate the market by aggressively purchasing Avis stock, triggering unusual volatility and a short squeeze. Avis's stock price surged to an intraday high of $765.94 per share on April 21, a roughly 419% increase from its April 1 opening price of $147.52, before collapsing 74.51% to close at $182.005 per share on April 28, 2026. Investors have until September 29, 2026 to file a lead plaintiff motion.
Avis Budget Group IncClass action lawsuit alleges market manipulation, creating legal and reputational risk.
Named in lawsuit for alleged market manipulation scheme, facing legal scrutiny.