CAR Shareholder Alert: September 29, 2026 Lead Plaintiff Deadline in Pentwater Capital Management Securities Class Action - Contact SueWallSt

A securities class action alleges Pentwater Capital Management LP, as a Section 16 insider owning more than 10% of Avis Budget Group, reaped short-swing profits from a $1.75 billion share dump that allegedly collapsed CAR shares, later agreeing to pay $650 million in settlement

NEW YORK, Aug. 18, 2026 (GLOBE NEWSWIRE) -- "Investors deserve transparency about material risks that could affect their investments, and Section 16 insider trading rules exist precisely because concentrated ownership positions can move a market," stated Joseph E. Levi, Esq. SueWallSt alerts investors in Avis Budget Group, Inc. (NASDAQ: CAR) of a pending securities class action covering purchasers between February 20, 2025 and April 21, 2026. Check if you might be eligible to recover your investment losses or contact Joseph E. Levi, Esq. at jlevi@SueWallSt.com | (888) SueWallSt.

CAR shares fell 74.51%, a decline of $531.97 per share, after an alleged two-day sale of 4.3 million shares generating $1.75 billion in gross proceeds. On June 18, 2026, Avis disclosed that Pentwater agreed to pay $650 million to settle alleged violations of Section 16(b) of the Exchange Act. The Court has set September 29, 2026 as the deadline to apply for lead plaintiff appointment.

The Alleged 10% Owner Insider Threshold

The action claims Pentwater crossed the 10% ownership threshold in Avis and thereby became a Section 16 corporate insider, a status disclosed in SEC filings. As alleged, the fund's total economic interest reached approximately 51% of the Company through common stock and cash-settled swaps, positioning a single holder as the dominant force in the market for CAR shares.

Short-Swing Profit Rules in Focus

• Section 16(b) requires holders of more than 10% of a class of equity securities to disgorge profits from purchases and sales occurring within any six-month window.
• The rule imposes strict liability, meaning intent is not an element once the trades and the ownership threshold are established.
• Cash-settled swaps allegedly allowed economic exposure to be built well beyond the reported common stock position.
• The settlement figure disclosed by Avis for the Section 16(b) claims was $650 million in cash, subject to court approval.
• The class action asserts that public purchasers of CAR securities, including those buying to cover short positions, bore the alleged harm.
  
  

Why Section 16(b) Compliance Allegedly Matters to Investors

The lawsuit asserts that ordinary shareholders transacted at prices allegedly distorted by an undisclosed manipulative trading pattern rather than by the Company's underlying business results. Recovery of short-swing profits by the issuer does not compensate class members who purchased at allegedly inflated prices. The action seeks damages under Sections 9(a) and 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 in the United States District Court for the Middle District of Florida.

Learn more about the case or call (888) SueWallSt.

WHY SUEWALLST: SueWallSt is powered by Levi & Korsinsky LLP. Levi & Korsinsky LLP has established itself as a nationally-recognized securities litigation firm that has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. The firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report as one of the top securities litigation firms in the United States.

Frequently Asked Questions About the CAR Lawsuit

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 is the CAR lead plaintiff deadline? A: The deadline to apply for lead plaintiff appointment is September 29, 2026. This deadline applies only to investors seeking to serve as lead plaintiff. Class members who do not apply may still participate in any recovery without taking action before this date.

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: 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: Investors may gather brokerage records showing purchase dates, share quantities, and prices paid. Contact SueWallSt, a brand of Levi & Korsinsky LLP, for a no-cost, no-obligation case 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 submit your information and review whether you may be eligible to recover. Should you choose to participate in the securities class action, they are generally handled on a contingency basis, with any attorneys' fees and expenses subject to court approval.

CONTACT:

Levi & Korsinsky, LLP

Joseph E. Levi, Esq.

33 Whitehall Street, 27th Floor

New York, NY 10004

jlevi@SueWallSt.com

Tel: (888) SueWallSt

Fax: (212) 363-7171

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