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Legal Challenge against Hertz Global Holdings for Alleged Misrepresentation in Stock Prices
ByAinvest
Friday, Jul 12, 2024 1:51 am ET1min read
A class action lawsuit was filed against Hertz Global Holdings, Inc. (NASDAQ:HTZ) for allegedly providing false and misleading information to investors about business practices and prospects during April 27, 2023, to April 24, 2024. The lawsuit claims that the company failed to disclose the financial impact of vehicle depreciation and demand for EV rentals, which led to shareholders' financial losses. Hertz, known for its vehicle rental services under brands like Hertz, Dollar, and Thrifty, is accused of overstating EV demand despite facing ongoing challenges. The case was brought to light after the company's weaker-than-expected Q1 2024 earnings.
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