The Portnoy Law Firm has filed a class action lawsuit on behalf of Verra Mobility Corporation investors who purchased securities between February 24, 2026 and May 26, 2026. The lawsuit alleges that Verra Mobility made materially false and misleading statements and concealed adverse facts about its relationship with Avis Budget Group, including downplaying the risk that major car rental agencies could replace its services. On May 26, 2026, Verra Mobility announced it received a termination notice from Avis Budget Group effective September 2026, and disclosed that the termination is expected to reduce Commercial Services' 2026 annualized revenue by approximately $135 million to $145 million and annualized segment profit by approximately $120 million to $125 million. Following this news, Verra Mobility shares fell $9.23, or approximately 71%, from $13.08 on May 26 to close at $3.85 on May 27, 2026. Investors have until August 4, 2026 to file a lead plaintiff motion.
Verra Mobility CorpVerra Mobility faces a class action lawsuit alleging false statements, and disclosed a major contract termination from Avis causing a 71% stock drop.
Avis Budget Group Inc