HTZ - HERTZ ALERT: Bragar Eagel & Squire P.C. Announces that a Class Action Lawsuit Has Been Filed Against Hertz Global Holdings Inc. and Encourages Investors to Contact the Firm | Benzinga
NEW YORK, June 04, 2024 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, announces that a class action lawsuit has been filed against Hertz Global Holdings, Inc. ("Hertz" or the "Company") (NASDAQ:HTZ) in the United States District Court for the Middle District of Florida on behalf of all persons and entities who purchased or otherwise acquired Hertz securities between April 27, 2023 and April 24, 2024, both dates inclusive (the "Class Period"). Investors have until July 30, 2024 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
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Hertz is a vehicle rental company that offers both internal combustion engine ("ICE") vehicle and electric vehicle ("EV") rental services from Company-operated, licensee, and franchisee locations across various countries. The Company also sells vehicles and value-added services.
With hundreds of thousands of vehicles in its rental fleet, accurately measuring vehicle depreciation—i.e., the decrease in value of the various vehicles in its fleet over time—is critical to Hertz's profitability.
In October 2021, Hertz announced that, "[a]s consumer interest in [EVs] skyrockets," the Company made "a significant investment to offer the largest EV rental fleet in North America and one of the largest in the world[,]" including "an initial order of 100,000 Teslas by the end of 2022 and new EV charging infrastructure across the company's global operations." The Company thereafter entered into multiple strategic partnerships with cities and others to promote its EV rental business, and concurrently continued to expand its EV fleet.
The Complaint alleges that, throughout the Class Period, Defendants made materially false and misleading statements regarding the Company's business, operations, and prospects. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: ...