The complaint, filed in the U.S. District Court for the Middle District of Florida, alleges that Pentwater leveraged its 51% economic interest in the company to induce a massive short squeeze. According to the filing, aggressive purchasing behavior pushed Avis shares from $147.52 on April 1, 2026, to an intraday peak of $765.94 by April 21. This artificial surge subsequently collapsed, with the stock price plummeting 74.5% to close at $182.005 just one week later.
Avis Investors Face September 29 Deadline in Market Manipulation Suit
Investors who sustained losses exceeding $100,000 in Avis Budget Group stock have until September 29, 2026, to seek lead plaintiff status in a federal class action lawsuit. The litigation centers on allegations that major shareholder Pentwater Capital Management orchestrated a market manipulation scheme that triggered extreme share price volatility.
The lawsuit, Hakimian v. Pentwater Capital Management LP, covers individuals who purchased Avis securities between February 20, 2025, and April 21, 2026. Plaintiffs contend that company executives and Pentwater failed to disclose material information regarding this market activity, violating federal securities laws. Legal representatives from Kahn Swick & Foti, LLC are currently evaluating claims for eligible investors.
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