HTZ - HTZ Class Action Alert: Robbins LLP Reminds HTZ Stockholders About the Hertz Global Holdings Inc. Securities Fraud Class Action | Benzinga
SAN DIEGO, June 20, 2024 (GLOBE NEWSWIRE) -- Robbins LLP reminds investors that a shareholder filed a class action on behalf of persons and entities that purchased or otherwise acquired Hertz Global Holdings, Inc. (NASDAQ:HTZ) securities between April 27, 2023 and April 24, 2024. 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.
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The Allegations: Robbins LLP is Investigating Allegations that Hertz Global Holdings, Inc. (HTZ) Misled Investors Regarding the Financial Impact of Vehicle Depreciation and Lack of Demand for EVs
According to the complaint, during the class period, defendants 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 ...