Avis Budget Investors Drop Suits Against Brass Over Car Strategy

Avis Budget Group Inc. directors and top executives no longer face a pair of shareholder suits brought on behalf of the company over a rotation strategy for the rental company’s cars.

The action comes after investors dropped a parallel class action. Judge Michael E. Farbiarz of the US District Court for the District of New Jersey signed off on the derivative suits’ voluntary dismissals Tuesday after the plaintiffs notified shareholders at his request.

• Andrew Jones and Arjun Dua, in separate suits, alleged board members and executives failed to disclose the company was speeding up the rotation of its rental car ...