Avis Budget Group Was Paid $650M Cash Settlement On October 5, 2026; Settlement Payment Approved By Court To Be Recognized In Q4 Financials; Settlement With Pentwater Capital Management LP Resolves Short-Swing Profits Lawsuit

On October 5, 2026, Avis Budget Group, Inc. received a $650 million cash settlement from Pentwater Capital Management LP, resolving a lawsuit regarding short-swing profits under Section 16(b) of the Securities Exchange Act of 1934. The court-approved settlement will be reflected in the company's Q4 financial statements. Avis plans to allocate part of the settlement to repay $350 million of its 5.750% Senior Notes due 2027.