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Hagens Berman Alerts Verra Mobility Corporation (VRRM) Investors: Avis Termination Notice Sparks Securities Class Action, 70% Stock Crash, $1.4B Wipeout
GlobeNewswire Inc.·
Verra Mobility Corporation (VRRM) is facing a securities class action lawsuit after Avis Budget Group terminated contract renewal negotiations. The company's stock crashed 70% on May 27, 2026, wiping out $1.4 billion in market value when the termination notice was disclosed. The lawsuit alleges Verra made false and misleading statements about the state of its relationship with Avis and the likelihood of contract renewal. CEO Roberts departed five days after the announcement.
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