PARSIPPANY, N.J. – August 15, 2026 (STL.News) Avis Budget Group Inc. (NASDAQ: CAR) investors are facing a Sept. 29, 2026, deadline to seek appointment as lead plaintiff in a recently filed federal securities class action involving an extraordinary surge and subsequent collapse in the rental-car company’s stock price.
The lawsuit, Hakimian v. Pentwater Capital Management LP, et al., Case No. 2:26-cv-02275, was filed July 31 in the U.S. District Court for the Middle District of Florida. Court records identify Khashayar Hakimian as the plaintiff and list Pentwater Capital Management LP and Matthew Halbower among the defendants.
The proposed class covers investors who purchased or otherwise acquired Avis securities — including investors who bought common stock to cover a short position — between Feb. 20, 2025, and April 21, 2026, according to a shareholder notice issued by Kahn Swick & Foti LLC.
Lawsuit alleges manipulation of Avis shares
The complaint centers on allegations involving Pentwater Capital Management and Halbower.
According to the complaint, Pentwater held an approximately 51% total economic interest in Avis through stock and cash-settled swaps as of March 2026. The lawsuit alleges Pentwater used that position while aggressively purchasing Avis shares, contributing to unusual volatility and a short squeeze.
Those assertions remain allegations contained in a civil complaint. A court has not established them as facts, and filing a lawsuit does not constitute a finding of liability or wrongdoing.
The trading figures cited in the complaint illustrate the scale of the volatility.
Avis shares opened at $147.52 on April 1, 2026, according to the shareholder notice. By April 21, the stock climbed to an intraday high of $765.94, up about 419% from the April 1 opening price. Shares closed April 21 at $713.97.
The rally then reversed sharply.
By April 28, Avis shares closed at $182.005, down about 74.5% from the April 21 closing level cited in the complaint.
The complaint alleges the trading activity significantly increased the value of Pentwater’s Avis holdings during the run-up.
Sept. 29 deadline for Avis investors
Investors covered by the proposed class have until Sept. 29, 2026, to ask the court to appoint them as lead plaintiff.
Becoming lead plaintiff is not required for an investor to potentially participate in any future recovery. The court ultimately determines who will serve as lead plaintiff and whether the litigation may proceed as a class action.
The case remains in its early stages. No settlement or recovery for investors is guaranteed.
Law firms and investor services publicizing the case
Several organizations may circulate notices concerning the same lawsuit, but investors should distinguish between counsel actually appearing in the court case and law firms or investor services independently soliciting potential clients.
Among those currently publicizing the Avis litigation are:
- Kahn Swick & Foti LLC (KSF) — The securities litigation firm issued the Aug. 14 notice regarding the Sept. 29 lead-plaintiff deadline. Managing Partner Lewis Kahn is listed as the firm’s contact for Avis investors.
- ClaimsFiler — ClaimsFiler has separately circulated notices concerning the Avis lawsuit and the Sept. 29 deadline. ClaimsFiler describes itself as a shareholder information service, not the law firm prosecuting the case.
Importantly, KSF’s investor notice does not state that Kahn Swick & Foti filed the original complaint or currently serves as court-appointed class counsel. Investors should not assume that every law firm advertising the case represents the named plaintiff.
Court records publicly available as of Aug. 15 confirm the lawsuit and identify the named plaintiff and defendants, but a court has not yet appointed a lead plaintiff or lead counsel.
Additional securities law firms may issue their own Avis investor notices as the Sept. 29 deadline approaches.
What the lead plaintiff does
Under the Private Securities Litigation Reform Act, investors seeking to become lead plaintiff generally ask the federal court to appoint them to represent the interests of the proposed class.
The lead plaintiff typically works with court-approved counsel in directing the litigation on behalf of the proposed investor class.
Investors do not have to seek the lead-plaintiff position to remain potential members of the class. Investors considering legal action should independently evaluate their circumstances and any law firm they may choose to contact.
Avis litigation remains in early stages
The case presents an unusual securities dispute because of the dramatic movement in Avis shares and the complaint’s allegations concerning a large shareholder’s economic exposure and trading activity.
The federal docket identifies the matter as a securities/commodities case and lists U.S. District Judge Sheri Polster Chappell as the assigned judge, with Magistrate Judge Nicholas P. Mizell also associated with the proceeding.
For investors, the next significant procedural date is Sept. 29, when the period for seeking appointment as lead plaintiff is scheduled to expire.
The litigation could continue well beyond that date as the court considers leadership applications and subsequent motions.
This news article can also be viewed at USPress.News.
Disclaimer: This article is for informational and news-reporting purposes only and does not constitute legal or investment advice. Allegations described in a complaint are unproven unless established through court proceedings. Filing a lawsuit does not establish wrongdoing, and no court has determined that the defendants violated federal securities laws.
