The complaint filed in the U.S. District Court for the Middle District of Florida alleges that Pentwater Capital Management, which held a 51% economic interest in Avis, engaged in a scheme to inflate share prices. By aggressively purchasing stock during the class period, the firm allegedly forced a short squeeze that sent the company’s value from $147.52 on April 1, 2026, to an intraday high of $765.94 by April 21. This surge proved unsustainable, as the stock price subsequently plummeted 74.5% to close at $182.00 by April 28.

Legal counsel from Kahn Swick & Foti, LLC is currently evaluating options for affected shareholders. The case, Hakimian v. Pentwater Capital Management LP, et al., argues that Avis executives failed to disclose material information regarding this market activity, violating federal securities laws. Investors seeking to participate in the proceedings or obtain further case details are directed to the ClaimsFiler portal.