Kessler Topaz Meltzer & Check, LLP Reminds Hertz Global Holdings, Inc. (HTZ)Investors of Securities Fraud Class Action Lawsuit
Kessler Topaz Meltzer & Check, LLP Reminds Hertz Global Holdings, Inc. (HTZ)Investors of Securities Fraud Class Action Lawsuit |
[04-July-2024] |
RADNOR, Pa., July 4, 2024 /PRNewswire/ -- The law firm of Kessler Topaz Meltzer & Check, LLP (www.ktmc.com) informs investors that a securities class action lawsuit has been filed against Hertz Global Holdings, Inc. ("Hertz") (NASDAQ: HTZ) in the United States District Court for the Middle District of Florida. The action charges Hertz with violations of the federal securities laws, including omissions and fraudulent misrepresentations relating to the company's business, operations, and prospects. As a result of Hertz's materially misleading statements and omissions to the public, Hertz's investors have suffered significant losses. The lead plaintiff deadline is July 30, 2024. If you suffered Hertz losses, you may CLICK HERE or go to: https://www.ktmc.com/new-cases/hertz-global-holdings-inc?utm_source=PR&utm_medium=link&utm_campaign=htz&mktm=r You can also contact attorney Jonathan Naji, Esq. of Kessler Topaz by calling (484) 270-1453 or by email at info@ktmc.com. DEFENDANTS' ALLEGED MISCONDUCT Following this news, Hertz's stock price fell $0.40 per share, or 4.28%, to close at $8.95 per share on January 11, 2024. On March 15, 2024, Hertz announced that its CEO and Chairman of its Board of Directors would resign from his roles by the end of the month, and that Hertz had subsequently appointed a new CEO. Then, on April 25, 2024, Hertz issued a press release announcing its first quarter 2024 results. Among other items, Hertz reported EPS of -$1.28 for the quarter, well short of the consensus estimate of -$0.43, and far worse than the adjusted diluted EPS of $0.39 that Hertz had achieved in the same period the year prior. In discussing these results, Hertz revealed that vehicle depreciation in the quarter increased $588 million, or $339 on a per-unit basis, primarily driven by deterioration in estimated forward residual values and disposition losses on internal combustion engine vehicles compared to gains in the prior-year quarter. Moreover, Hertz reported a $195 million charge to vehicle depreciation to write down EVs held for sale that were remaining in inventory at quarter-end to fair value and to recognize the disposition losses on EVs sold in the period. Following this news, Hertz's stock price fell $1.12 per share, or 19.31%, to close at $4.68 per share on April 25, 2024. WHAT CAN I DO? CLICK HERE TO SIGN UP FOR THE CASE OR GO TO: https://www.ktmc.com/new-cases/hertz-global-holdings-inc?utm_source=PR&utm_medium=link&utm_campaign=htz&mktm=r WHO CAN BE A LEAD PLAINTIFF? ABOUT KESSLER TOPAZ MELTZER & CHECK, LLP CONTACT: May be considered attorney advertising in certain jurisdictions. Past results do not guarantee future outcomes. View original content:https://www.prnewswire.com/news-releases/kessler-topaz-meltzer--check-llp-reminds-hertz-global-holdings-inc-htzinvestors-of-securities-fraud-class-action-lawsuit-302188508.html SOURCE Kessler Topaz Meltzer & Check, LLP | ||
Company Codes: NASDAQ-NMS:HTZ |