Case Background:
A class action lawsuit has been filed on behalf of those who purchased or acquired Hertz Global Holdings, Inc. (“Hertz”) (NASDAQ: HTZ) securities between April 27, 2023 and April 24, 2024, both dates inclusive (the “Class Period”).
The Complaint alleges that, throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that: (1) Hertz had downplayed the financial impact of vehicle depreciation, and/or overstated its ability to track and manage vehicle depreciation; (2) demand for Hertz’s EVs was not as strong as Defendants had led investors to believe; (3) Hertz had too many vehicles, particularly EVs, in its fleet to remain profitable; (4) as a result of all the foregoing, Hertz was likely to incur significant losses on the disposition of both its ICE vehicles and EVs; (5) all the foregoing was likely to, and did, have a significant negative impact on Hertz’s financial results; and (6) as a result, Hertz’s public statements were materially false and misleading at all relevant times.
Current Status of Case:
On August 14, 2024, the Court entered an Order appointing Lead Plaintiff and Approving its selection of Lead Counsel. On October 30, 2024, the Defendants filed a Motion to Dismiss whichis currently being briefed by the parties. This action is ongoing.
If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP: Jon Naji, Esq. (484) 270-1453; toll-free at (844) 887-9500; or via e-mail at info@ktmc.com. If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.