SHAREHOLDER ALERT: Levi & Korsinsky, LLP Notifies Investors It Has Filed a Complaint to Recover Losses Suffered by Traders of Avis Budget Group, Inc. Securities and Sets a Lead Plaintiff Deadline of September 29, 2026

NEW YORK, Sept. 10, 2026 (GLOBE NEWSWIRE) -- The following statement is being issued by Levi & Korsinsky, LLP:

To: All persons or entities who (1) purchased or otherwise acquired Avis Budget Group, Inc. (“Avis” or the “Company”) (NASDAQ: CAR) securities (including purchasers/acquirers of swaps and those who bought Avis common stock to cover a short position) or (2) sold Avis securities short (including sellers of calls who then purchased similar contracts to cover), between February 20, 2026 and April 21, 2026, inclusive. You are hereby notified that the class action lawsuit Arjang v. Pentwater Capital Management LP, et al. (Case No. 1:26-cv-07884) has been commenced in the United States District Court for the Southern District of New York. To get more information go to:

https://zlk.com/pslra-1/avis-budget-group-inc-lawsuit-submission-form

or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500. There is no cost or obligation to you.

According to the complaint, Pentwater Capital Management LP (“Pentwater” or the “Investment Firm”) was Avis’ second largest shareholder, holding 2.95 million shares, or approximately 8.4%, of Avis’ outstanding stock as of June 30, 2025. Defendants devised a plan to manipulate the market by buying up significant shares of Avis while it was being heavily shorted, generating a short squeeze. The resulting rapid price escalation would then force short sellers to close their positions by purchasing additional shares, compounding the upward pressure on the stock and allowing defendants to reap the benefits of Avis’ artificially increased share price. Defendants act of manipulation was to buy out a significant portion of Avis’ outstanding shares while further increasing its economic stake through additional put options and calls. Defendants did so despite no significant change to Avis’ fundamentals that would justify sharply increasing their stake in the Company.

On April 22 and 23, 2026, Pentwater finalized its scheme, selling a significant portion of the Avis shares it had acquired since February, approximately 4.3 million shares, realizing gains of about $1.75 billion. The stock price reacted in accord: from a closing price of $713.97 on April 21, 2026, to a closing price of $229.14 on April 23, 2026, the stock had collapsed by $484.83. Pentwater’s sharp stock sale had triggered a nearly 68% decline in Avis’ stock price in just two days.

By April 30, 2026, Pentwater had sold more than 5 million shares of Avis’ stock in only a month as indicated by a Schedule 13G/A filing from the Investment Firm. Pentwater divested its share down to only 7.3% of Avis’ holdings. Pentwater attested it now held approximately 2.59 million shares of Avis’ stock. In reaction to the filing, Avis’ stock price fell further to a closing price of $145.75 on May 8, 2026. The stock fell nearly $570 from its peak on April 21, 2026, a nearly 80% decline in stock price in just over two weeks.

“Our firm is committed to ensuring that investors receive full compensation for losses caused by corporate misrepresentations,” said Joseph E. Levi, a partner at Levi & Korsinsky. “We encourage CAR shareholders to step forward before the September 29, 2026 deadline so we can pursue justice on their behalf.”

If you suffered a loss in CAR securities you have until September 29, 2026 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.

WHY LEVI & KORSINSKY: Over the past 20 years, the team at Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. Our 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.

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 
www.zlk.com