BUSINESSJun 22 · 23:17 UTCFINANCIAL TIMES WORLD

Hedge fund to pay Avis $650mn in settlement after wild stock swings

Pentwater Capital, a hedge fund, agreed to pay Avis $650 million in a settlement following significant stock price fluctuations. The hedge fund rapidly sold shares in Avis as its stock experienced a sharp rise followed by a steep decline.

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