{"id":990423,"date":"2026-08-05T14:04:22","date_gmt":"2026-08-05T18:04:22","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/levi-korsinsky-reminds-pentwater-capital-management-investors-of-the-pending-class-action-lawsuit-with-a-lead-plaintiff-deadline-of-september-29-2026-car\/"},"modified":"2026-08-05T14:04:22","modified_gmt":"2026-08-05T18:04:22","slug":"levi-korsinsky-reminds-pentwater-capital-management-investors-of-the-pending-class-action-lawsuit-with-a-lead-plaintiff-deadline-of-september-29-2026-car","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/levi-korsinsky-reminds-pentwater-capital-management-investors-of-the-pending-class-action-lawsuit-with-a-lead-plaintiff-deadline-of-september-29-2026-car\/","title":{"rendered":"Levi & Korsinsky Reminds Pentwater Capital Management Investors of the Pending Class Action Lawsuit With a Lead Plaintiff Deadline of September 29, 2026 – CAR"},"content":{"rendered":"
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PR Newswire<\/p>\n<\/p><\/div>\n

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\n A securities class action alleges<\/span> that Pentwater Capital Management LP’s SEC filings disclosed a growing Avis Budget Group stake in stages while allegedly<\/span> omitting the trading intentions behind it, leaving purchasers exposed when 4.3 million shares hit the market in two sessions.<\/i>\n <\/p>\n

\n NEW YORK<\/span>, Aug. 5, 2026<\/span> \/PRNewswire\/ — Levi & Korsinsky, LLP alerts investors in Avis Budget Group, Inc. (NASDAQ: CAR) that a securities class action has been filed on behalf of shareholders who purchased or otherwise acquired Avis securities between February 20, 2025 and April 21, 2026. Check if you might be eligible to recover your investment losses<\/a>. You may also contact Joseph E. Levi, Esq. at jlevi@levikorsinsky.com<\/a>\u00a0or (212) 363-7500.<\/p>\n

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\n \"Levi\n <\/p>\n<\/p><\/div>\n

CAR shares reached an intraday high of $765.94 on April 21, 2026, before they started to falter. The stock closed on April 21 at $713.97, then fell $270.03 per share, or 37.82%, in the single session on April 22, and ultimately closed at $182.005 on April 28, 2026, a total decline of $531.97 per share, or 74.51%. The lead plaintiff deadline is September 29, 2026.<\/p>\n

\n What the SEC Filings Disclosed<\/b>\n <\/p>\n

SEC filings stated the size of the position as it grew. A Form 3 filed February 24, 2026 reported beneficial ownership of 3,562,100 Avis shares. A Schedule 13G filed March 6, 2026 reported 4,327,200 shares, or 12.3% of outstanding stock, including 254,700 shares issuable upon exercise of call options. An April 7, 2026 filing reported 7,824,100 shares, or 22.2%, including 775,800 shares issuable upon call option exercise. Disclosure language indicated an economic interest of 39% as of February 20, rising to 51% by March through stock and cash-settled swaps.<\/p>\n

\n What Plaintiffs Allege<\/span> Was Missing<\/b>\n <\/p>\n

The complaint challenges the adequacy of what accompanied those position reports. According to the complaint, the filings quantified an escalating stake without conveying that the accumulation was allegedly<\/span> designed to squeeze a heavily shorted stock and that the position would be unwound at the peak. The action alleges<\/span> the omitted information concerned market supply and demand for Avis securities, and that purchasers acquired shares at manipulated prices in reliance on an assumption of a market free of manipulation.<\/p>\n

\n Disclosure Gaps Alleged<\/span><\/b>\n <\/p>\n