Hertz Global Holdings, Inc.
The law firm of Kirby McInerney LLP announces that a class action lawsuit has been filed in the U.S. District Court for the Middle District of Florida on behalf of those who acquired Hertz Global Holdings, Inc. (“Hertz” or the “Company”) (NASDAQ: HTZ) securities during the period of April 27, 2023 through April 24, 2024, inclusive (“the Class Period”). Investors have until July 30, 2024 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
The lawsuit alleges that Defendants made false and/or misleading statements and/or failed to disclose that: (i) Hertz had downplayed the financial impact of vehicle depreciation, and/or overstated its ability to track and manage vehicle depreciation; (ii) demand for Hertz’s EVs was not as strong as Defendants had led investors to believe; (iii) Hertz had too many vehicles, particularly EVs, in its fleet to remain profitable; (iv) as a result of all the foregoing, Hertz was likely to incur significant losses on the disposition of both its ICE vehicles and EVs; (v) all the foregoing was likely to, and did, have a significant negative impact on Hertz’s financial results; and (vi) as a result, the Company’s public statements were materially false and misleading at all relevant times.
The lawsuit alleges that Defendants made false and/or misleading statements and/or failed to disclose that: (i) Hertz had downplayed the financial impact of vehicle depreciation, and/or overstated its ability to track and manage vehicle depreciation; (ii) demand for Hertz’s EVs was not as strong as Defendants had led investors to believe; (iii) Hertz had too many vehicles, particularly EVs, in its fleet to remain profitable; (iv) as a result of all the foregoing, Hertz was likely to incur significant losses on the disposition of both its ICE vehicles and EVs; (v) all the foregoing was likely to, and did, have a significant negative impact on Hertz’s financial results; and (vi) as a result, the Company’s public statements were materially false and misleading at all relevant times.