SueWallSt Reminds Shareholders of a Lead Plaintiff Deadline of September 29, 2026 in Pentwater Capital Management LP Lawsuit - CAR

A securities class action alleges that Pentwater Capital Management LP and its CEO drove Avis Budget Group shares up more than 400% before dumping 4.3 million shares over two trading days, and this release maps the sequence of dated events investors are being asked to examine.

NEW YORK, Aug. 6, 2026 /PRNewswire/ -- SueWallSt reminds purchasers of Avis Budget Group, Inc. (NASDAQ: CAR) securities of a pending securities class action against Pentwater Capital Management LP and Matthew Halbower on behalf of shareholders who purchased CAR securities between February 20, 2025 and April 21, 2026. See if you could be eligible to recover. You may also contact Joseph E. Levi, Esq. at [email protected] or (888) SueWallSt.

CAR closed at $713.97 on April 21, 2026 after an intraday high of $765.94, then fell $270.03 per share (37.82%) in the single session of April 22, and ultimately declined $531.97 per share, or 74.51%, to close at $182.005 on April 28, 2026. Investors have until September 29, 2026 to seek lead plaintiff status.

Chronology of Material Events Alleged in the Action

The filing states that the price movement did not occur in isolation but followed a documented accumulation-then-liquidation sequence.

• February 20, 2026: Pentwater crossed the 10% ownership threshold in Avis, later disclosed on a Form 3 reporting beneficial ownership of 3,562,100 shares.
• March 6, 2026: SEC filings disclosed holdings of 4,327,200 shares, or 12.3% of outstanding stock, including shares issuable on exercise of call options.
• March 23, 2026: Shares rose 7.39% to close at $107.28 on higher-than-average volume, beginning what the complaint describes as an almost uninterrupted four-week climb.
• April 7, 2026: Filings disclosed an increase to 7,824,100 shares, or 22.2% of the Company, plus 775,800 option shares.
• April 21, 2026: The stock peaked intraday at $765.94, roughly 419% above its April 1 opening price of $147.52.
• April 22-23, 2026: As set forth in the complaint, 4.3 million shares were sold for gross proceeds of $1.75 billion.
• June 18-22, 2026: Avis disclosed a $650,000,000 cash settlement of its Section 16(b) short-swing profits claims, subject to court approval.

How the Alleged Sequence Ties to Investor Harm

It is alleged that aggressive purchasing during a period of elevated short interest produced a short squeeze that inflated the value of the accumulated position, and that the concentrated April sales caused the subsequent collapse. The action asserts claims under Sections 9(a) and 10(b) of the Exchange Act and Rule 10b-5 in the United States District Court for the Middle District of Florida.

"The dated sequence described in this complaint, from a 10% ownership crossing in February to $1.75 billion in reported sales over two April sessions, raises serious questions about whether the market for CAR shares was free of manipulation. Investors who purchased during that window may wish to review their options." -- Joseph E. Levi, Esq.

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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: 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: When did the alleged misconduct affecting CAR investors occur? A: The Class Period runs from February 20, 2025 to April 21, 2026. The complaint alleges that subsequent disclosures revealed information that caused a significant stock decline.

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: Who are the defendants named in the CAR lawsuit? A: The complaint names Pentwater Capital Management LP and Matthew Halbower, Pentwater's Founder, Chief Executive Officer, and Chief Investment Officer.

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 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 [email protected] or (212) 363-7500. No immediate action is required to remain eligible as an absent class member.

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.

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.\
33 Whitehall Street, 27th Floor\
New York, NY 10004\
[email protected]\
Tel: (888) SueWallSt\
Fax: (212) 363-7171

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SOURCE SueWallSt.com