CAR DEADLINE: Levi & Korsinsky Reminds Pentwater Capital Management LP Investors of Upcoming Securities Class Action Deadline

Retail enthusiasm turned to alarm as Avis Budget Group shares climbed 419% in three weeks, then collapsed 74.51% after Pentwater Capital Management LP allegedly dumped 4.3 million shares into the market.

NEW YORK, Aug. 31, 2026 (GLOBE NEWSWIRE) -- Levi & Korsinsky, LLP provides context on how investor sentiment surrounding Avis Budget Group, Inc. (NASDAQ: CAR) shifted during the class period, and notifies investors that a securities class action was filed on behalf of shareholders who purchased Avis securities between February 20, 2025 and April 21, 2026. Check if you might be eligible to recover your investment losses. You may also contact Joseph E. Levi, Esq. at jlevi@levikorsinsky.com or (212) 363-7500.

CAR shares peaked at $765.94 intraday on April 21, 2026 before closing at $713.97 the same day. The stock continued to tumble a further $531.97 per share, or 74.51%, to close at about $182 on April 28, 2026. The lead plaintiff deadline is September 29, 2026.

The Early Optimism

Between April 1 and April 21, 2026, sentiment reflected extraordinary enthusiasm as the stock advanced roughly 419% from an opening price of $147.52. Shares that had traded below $200 for most of the prior twelve months were suddenly among the most talked-about names on the market, despite disappointing full-year 2025 results. Investors reportedly expressed the belief that the rally reflected genuine demand rather than, as the complaint contends, an orchestrated accumulation campaign.

The Growing Concerns

Heavy short interest in CAR fed a squeeze dynamic in which bearish traders were forced to buy shares at escalating prices. Momentum buyers piled in alongside them. The lawsuit alleges that Pentwater's continuous purchasing during this window was designed to raise the price for the purpose of inducing purchases by others.

The Breaking Point

On April 22, 2026, the stock fell $270.03, or 37.82%, in a single session. Sentiment reversed violently over the following week. Then, on April 29, Avis management told investors that Pentwater had sold 4.3 million shares for gross proceeds of $1.75 billion on April 22 and April 23, and that Pentwater appeared to be the only insider active during the period of extreme volatility.

The Sentiment Shift

• Early April 2026: Enthusiasm builds as CAR climbs from $147.52 toward record levels
• April 21, 2026: Peak euphoria at an intraday high of $765.94
• April 22, 2026: Confidence breaks with a 37.82% single-session decline
• April 28, 2026: Shares close at $182.005, down 74.51% from the April 22 closing price
• April 29, 2026: Disclosure of the $1.75 billion two-day sale reframes the entire rally for shareholders
• June 18, 2026: Avis discloses a $650 million settlement of alleged Section 16(b) short-swing profit claims

"Investor confidence depends on receiving truthful information from the companies and market participants they transact alongside. The complaint alleges that CAR shareholders were buying into a price that had been artificially affected, and the resulting 74.51% decline reflects how quickly that confidence can be erased." -- Joseph E. Levi, Esq.

LEAD PLAINTIFF DEADLINE: September 29, 2026

Learn more about the case or call (212) 363-7500.

WHY LEVI & KORSINSKY — Ranked in ISS Securities Class Action Services' Top 50 Report for seven consecutive years, Levi & Korsinsky, LLP is a nationally recognized leader in shareholder rights litigation. With a team of over 70 professionals, the firm has recovered hundreds of millions of dollars for investors. Investors who suffered losses have until September 29, 2026 to seek appointment as lead plaintiff.

Frequently Asked Questions About the CAR Lawsuit

Q: What is the CAR class action lawsuit about? A: A securities class action has been filed alleging that Pentwater Capital Management LP and its CEO engaged in a scheme that artificially inflated the market price of Avis Budget Group, Inc. (NASDAQ: CAR) securities between February 20, 2025 and April 21, 2026. Pentwater then sold a significant portion of its CAR ownership, allegedly reaping the benefit of the inflated stock price while sending the stock tumbling nearly 75%.

Q: How much did CAR stock drop? A: Shares reached a peak closing price of $713.97 on April 21, 2026. The following day, the stock fell approximately 37.82%, or $270.03, to close at $443.94. Shares slid a further approximate $261.94, closing at only $182.005 on April 28, 2026. Investors who purchased during the Class Period at allegedly inflated prices may be eligible to seek compensation.

Q: Who is eligible to join the CAR investor lawsuit? A: Investors who purchased CAR stock or securities between February 20, 2025 and April 21, 2026 and suffered financial losses may be eligible. Eligibility is based on purchase date and documented losses, not on whether you still hold the shares.

Q: What court was the CAR class action filed in? A: The case was filed in the United States District Court for the Middle District of Florida.

Q: What do CAR investors need to do right now? A: Gather brokerage records including purchase dates, share quantities, and prices paid. Contact Levi & Korsinsky for a free, no-obligation evaluation at jlevi@levikorsinsky.com or (212) 363-7500. No immediate action is required to remain eligible as an absent class member.

Q: What is a lead plaintiff and why does it matter? A: A lead plaintiff is the investor appointed by the court to represent the entire class. Lead plaintiffs are typically investors with the largest documented losses. Being appointed does not increase individual recovery but gives direct oversight of how the case is run.

Q: What if I already sold my CAR shares -- can I still recover losses? A: Yes. Eligibility is based on when you purchased, not whether you still hold the shares. Investors who bought during the Class Period and sold at a loss may still be eligible to participate.

Q: What does it cost me to participate? A: There is no upfront cost to contact the firm. Securities class actions are generally handled on a pure contingency basis. No upfront fees, no retainer, and no out-of-pocket costs. Any attorneys' fees and expenses awarded to class counsel are subject to court approval.

Q: Do I need to go to court or give testimony? A: No. The overwhelming majority of class members never appear in court or give depositions. If there is a settlement or recovery, eligible class members generally submit a claim form to seek their portion.

CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 27th Floor
New York, NY 10004
jlevi@levikorsinsky.com
Tel: (212) 363-7500
Fax: (212) 363-7171

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