Avis Budget Group reaches $650M settlement with Pentwater
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Joint Statement from Avis Budget Group and Pentwater Capital Management
July 21, 2026 8:30 AM EDTAvis Files Settlement Agreement Related to Short Swing Profits Litigation
PARSIPPANY, N.J. and NAPLES, Fla., July 21, 2026 (GLOBE NEWSWIRE) -- Avis Budget Group, Inc. (NASDAQ: CAR) (Avis or the Company) and Pentwater Capital Management LP (Pentwater and collectively with Avis, the Parties) today announced Avis has filed a motion in the United States District Court for the Southern District of New York, in case no. 1:26-cv-05512-CM, seeking approval of a settlement agreement (the Settlement) reached between the Parties. Avis appreciates Pentwaters willingness to resolve the Section 16(b) Litigation without the need for further proceedings.
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