Avis Set for $650 Million Pentwater Payout After Short Squeeze (opens original article in a new tab)

Avis Budget Group Inc. is set to receive $650 million in cash from Pentwater Capital Management as part of a settlement agreement resolving a lawsuit over short-swing profits.

• Avis Budget Group Inc. will receive $650 million in cash from Pentwater Capital Management
• Settlement resolves a lawsuit over short-swing profits
• Pentwater Capital Management agreed to the payout