Case Background:
This is a federal securities fraud class action lawsuit on behalf of those who purchased or otherwise acquired Hertz Global Holdings, Inc. (“Hertz”) (NASDAQ: HTZ) securities between April 27, 2023 and April 24, 2024, 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 October 30, 2024, the Defendants filed a Motion to Dismiss, which is pending before the Court. This action is ongoing.
If you wish to discuss this action or have any questions, 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.