Portnoy Law Firm Announces Class Action on Behalf of Avis Budget Group, Inc. Investors

LOS ANGELES, Aug. 04, 2026 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Avis Budget Group, Inc., (“Avis” or the "Company") (NASDAQ: CAR) investors of a class action on behalf of investors that bought securities between February 20, 2025 - April 21, 2026, inclusive (the “Class Period”). Avis investors have until September 29, 2026 to file a lead plaintiff motion.

Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 310-692-8883 or email: lesley@portnoylaw.com, to discuss their legal rights, or join the case via https://portnoylaw.com/avis-budget-group-inc. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for PURSUING claims to recover their losses.

According to the Complaint, Avis and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.

According to the complaint, Defendants Pentwater and Halbower engaged in a scheme to manipulate the market for Avis securities. Pentwater, as one of Avis's largest shareholders — holding an approximate 51% total economic interest in the Company through stock and cash-settled swaps as of March 2026 — allegedly leveraged this position by aggressively purchasing Avis stock during the Class Period. This buying activity triggered unusual volatility and a short squeeze in Avis securities, meaning a rapid surge in the stock price as short sellers bought back shares to cover their losses, which in turn fueled further price increases. The result, according to the complaint, was a significant increase in the value of Pentwater's Avis holdings. Avis’s stock price reached a staggering high of $765.94 per share during intraday trading on April 21, an increase of approximately 419% over its $147.52 opening price on April 1, before closing at $713.97 per share. Then, over the following trading sessions, Avis’s share price collapsed by 74.51%, closing at $182.005 per share on April 28, 2026.

The Portnoy Law Firm represents investors in pursuing claims caused by corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.

Lesley F. Portnoy, Esq.

Admitted CA, NY and TX Bar

lesley@portnoylaw.com

310-692-8883

www.portnoylaw.com

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