Avis Budget Group Inc.
06/22/2026 | Press release | Distributed by Public on 06/22/2026 14:31
Material Event (Form 8-K)
Item 8.01. Other Events.
On June 19, 2026, Avis Budget Group, Inc. (the "Company") entered into a Settlement and Release Agreement (the "Settlement Agreement") with Pentwater Capital Management LP and certain affiliated persons ("Pentwater") to settle its pending lawsuit against Pentwater for the recovery of short-swing profits under Section 16(b) of the Securities Exchange Act of 1934 (the "Section 16(b) Action"). Under the Settlement Agreement, the settlement amount is $650,000,000 in cash (the "Settlement Amount"). The Settlement Agreement and payment to the Company of the Settlement Amount is subject to court approval, including the issuance of an order approving the terms of the settlement agreement and making a finding that, among other things, the Company has diligently pursued the claims raised in the Section 16(b) Action and that the Settlement Amount is fair, reasonable and adequate, and other customary conditions.
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