NEW YORK, May 14, 2025 (GLOBE NEWSWIRE) — Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, reminds investors that class actions have been commenced on behalf of stockholders of Avis Budget Group, Inc. CAR, Civitas Resources, Inc. CIVI, Open Lending Corporation LPRO, and West Pharmaceutical Services, Inc. WST. Stockholders have until the deadlines below to petition the court to serve as lead plaintiff. Additional information about each case can be found at the link provided.
Avis Budget Group, Inc. CAR
Class Period: February 16, 2024 – February 10, 2025
Lead Plaintiff Deadline: June 24, 2025
The lawsuit alleges that Defendants made materially false and misleading statements and/or failed to disclose material adverse information regarding the Company’s business, operations, and prospects, including allegations that: (i) Avis Budget crafted and implemented a plan to significantly accelerate its fleet rotation in the fourth quarter of 2024; (ii) the foregoing acceleration shortened the useful life of the majority of the Company’s vehicles in the Americas segment, thereby reducing their recoverable value; (iii) as a result, Avis Budget would be forced to recognize billions of dollars in impairment charges and incur substantial losses; (iv) all the foregoing was likely to, and did, have a significant negative impact on the Company’s financial results; and (v) accordingly, Avis Budget’s financial and/or business prospects were overstated.
For more information on the Avis Budget class action go to: https://bespc.com/cases/CAR
Civitas Resources, Inc. CIVI
Class Period: February 27, 2024 – February 24, 2025
Lead Plaintiff Deadline: July 1, 2025
The Civitas Resources class action lawsuit alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (i) Civitas Resources was highly likely to significantly reduce its oil production in 2025 as a result of, among other things, declines following the production peak at the DJ Basin in the fourth quarter of 2024 and a low TIL count at the end of 2024; (ii) increasing its oil production would require Civitas Resources to acquire additional acreage and development locations, thereby incurring significant debt and causing Civitas Resources to sell corporate assets to offset its acquisition costs; (iii) Civitas Resources’ financial condition would require it to implement disruptive cost reduction measures including a significant workforce reduction; and (iv) accordingly, Civitas Resources’ business and/or financial prospects, as well as its operational capabilities, were overstated.
The Civitas Resources class action lawsuit further alleges that on February 24, 2025, Civitas Resources announced its financial results for the fourth quarter and full year 2024, reporting revenue of $1.29 billion, missing consensus estimates by $3.44 million, and non-GAAP earnings per share of $1.78 for the quarter, missing consensus estimates by $0.21 per share. According to the complaint, also on February 24, 2025, Civitas Resources revealed several 2025 outlook highlights, including “[d]elivering oil production between 150 and 155 thousand barrels per day (‘MBbl/d’) on average,” – a year-over-year decline of approximately 4% –”[e]xpanding [its] Permian Basin position with a $300 million bolt-on transaction that adds 19,000 net acres and approximately 130 future development locations in the Midland Basin,” and “[e]xecuting on [a] new divestment target of $300 million” meant to offset the foregoing transaction. Civitas Resources explained that “[a]s compared to the fourth quarter of 2024, lower volumes are primarily driven by the DJ Basin, due to natural declines following peak production in the fourth quarter, a low TIL count exiting 2024 and in the first quarter of 2025,” as well as severe winter weather and unplanned third-party processing downtime in the first quarter, the Civitas Resources class action lawsuit alleges. Civitas Resources additionally announced a 10% reduction in its workforce across all levels and the termination of its Chief Operating Officer and Chief Transformation Officer, according to the complaint. On this news, the price of Civitas Resources stock fell more than 18%, according to the Civitas Resources class action lawsuit.
For more information on the Civitas class action go to: https://bespc.com/cases/CIVI
Open Lending Corporation LPRO
Class Period: February 24, 2022 – March 31, 2025
Lead Plaintiff Deadline: June 30, 2025
The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants: (1) misrepresented the capabilities of the Company’s risk-based pricing models; (2) issued materially misleading statements regarding the Company’s profit share revenue; (3) failed to disclose the Company’s 2021 and 2022 vintage loans had become worth significantly less than their corresponding outstanding loan balances; (4) misrepresented the underperformance of the Company’s 2023 and 2024 vintage loans; and (5) as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
For more information on the Open Lending class action go to: https://bespc.com/cases/LPRO
West Pharmaceutical Services, Inc. WST
Class Period: February 16, 2023, – February 12, 2025
Lead Plaintiff Deadline: July 7, 2025
The West Pharmaceutical class action lawsuit alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (i) despite claiming strong visibility into customer demand and attributing headwinds to temporary COVID-related product destocking, West Pharmaceutical was in fact experiencing significant and ongoing destocking across its high-margin High-Value Products portfolio; (ii) West Pharmaceutical’s SmartDose device, which was purportedly positioned as a high-margin growth product, was highly dilutive to West Pharmaceutical’s profit margins due to operational inefficiencies; and (iii) these margin pressures created the risk of costly restructuring activities, including West Pharmaceutical’s exit from continuous glucose monitoring (“CGM”) contracts with long-standing customers.
The West Pharmaceutical class action lawsuit further alleges that on February 13, 2025, West Pharmaceutical issued its 2025 revenue forecast in the range of $2.88 billion to $2.91 billion, significantly below expectations. According to the complaint, West Pharmaceutical attributed the disappointing guidance in part to Contract Manufacturing headwinds, including the loss of two major CGM customers that had begun transitioning to in-house manufacturing of next-generation devices because West Pharmaceutical “made the decision to not participate going forward as our financial thresholds cannot be achieved.” The West Pharmaceutical class action lawsuit further alleges that West Pharmaceutical also revealed that its SmartDose wearable injector will become margin dilutive in 2025 due to lower pricing. On this news, the price of West Pharmaceutical’s stock fell more than 38%.
For more information on the West Pharmaceutical class action go to: https://bespc.com/cases/WST
About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact Information:
Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.
Marion Passmore, Esq.
(212) 355-4648
investigations@bespc.com
www.bespc.com
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