Avis Budget Group is facing a securities class action in the U.S. District Court for the Middle District of Florida, with investors who bought or otherwise acquired Avis securities, including common stock purchased to cover short positions, between Feb. 20, 2025 and April 21, 2026 due by Sept. 29, 2026 to seek lead-plaintiff status. The case, Hakimian v. Pentwater Capital Management LP, et al., alleges Avis and certain executives failed to disclose material information while Defendants Pentwater and Halbower manipulated the market; Pentwater allegedly held an approximate 51% total economic interest through stock and cash-settled swaps as of March 2026, and its buying helped spark unusual volatility and a short squeeze that sent Avis shares to an intraday high of $765.94 on April 21 from a $147.52 opening price on April 1 before the stock closed at $713.97 and then slid 74.51% to $182.005 by April 28, 2026.