Avis Budget Group Investors Drop Lawsuit Over Fleet Rotation

Investors leading a proposed class action against Avis Budget Group Inc. over management of its rental car fleet are voluntarily dismissing the case, according to a federal court filing.

The dismissal allows for refiling the claims, which center around $2.5 billion in impairment and other charges related to accelerated rotation of its vehicles in and out of service. The parties notified the US District Court for the District of New Jersey on Monday about the agreement to dismiss the case, but didn’t provide a reason.

• The suit, filed in April, alleged Avis Budget sped up its fleet rotations ...