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HERTZ GLOBAL HOLDINGS, INC. (NASDAQ: HTZ) DEADLINE WARNING:

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NEW YORK, July 15, 2024 (GLOBE NEWSWIRE) –

  • Do you own or have you owned shares of Hertz Global Holdings, Inc. (NASDAQ: HTZ)?
  • Did you purchase your shares between April 27, 2023 and April 24, 2024 (inclusive)?
  • Did you lose money on your investment in Hertz Global Holdings, Inc.?
  • Would you like to talk about your rights?

Bernstein Liebhard LLP, a nationally recognized investor rights law firm, reminds investors of the deadline to file a lead plaintiff motion in a class action lawsuit on behalf of investors who purchased securities of Hertz Global Holdings, Inc. (“Hertz” or the “Company”) (NASDAQ: HTZ) between 27 April 2023 and 24 April 2024inclusive (the “Claim Period”). The lawsuit was filed in the U.S. District Court for the Middle District of Florida and alleges violations of the Securities Exchange Act of 1934 against the Company and certain of its officers (the “Complaint”).

If you Have purchased or acquired Hertz securities and/or would like to discuss your legal rights and options Please visit Hertz Global Holdings, Inc. Shareholder Class Action Lawsuit or contact the Investor Relations Manager Peter Allocco at (212) 951-2030 or [email protected].

If you wish to serve as lead plaintiff, you must move the Court no later than July 30, 2024. A lead plaintiff is a representative party who directs the litigation on behalf of other class members. Your ability to share in any recovery is not dependent on your serving as lead plaintiff. If you choose not to take action, you may remain an absent class member.

According to the complaint, defendants failed to disclose to investors that (i) Hertz downplayed the financial impact of the vehicles’ depreciation and/or overstated its ability to track and manage the vehicles’ depreciation; (ii) demand for Hertz’s electric vehicles (“EVs”) was not as strong as defendants led investors to believe; (iii) Hertz had too many vehicles, particularly electric vehicles, in its fleet to remain profitable; and (iv) Hertz would likely incur significant losses upon the sale of both its internal combustion engine (“ICE”) vehicles and its electric vehicles.

On April 25, 2024, Hertz announced its first quarter 2024 results, including adjusted diluted earnings per share (“EPS”) of -$1.28 for the quarter, well below the consensus estimate of -$0.43 and far below the adjusted diluted EPS of $0.39 the Company achieved in the same period last year. In discussing these results, Hertz announced that vehicle depreciation increased $588 million, or $339 per share, in the quarter, primarily due to deterioration in estimated residual values ​​and disposal losses on internal combustion engine vehicles compared to earnings in the prior year quarter. The Company also announced that of the $339 per share increase, $119 was attributable to electric vehicles held for sale. Hertz also reported a $195 million vehicle depreciation charge to write down to fair value the electric vehicles held for sale that were still in inventory at the end of the quarter and to account for capital losses on electric vehicles sold during the same period.

On 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.

If you Have purchased or acquired Hertz securities and/or would like to discuss your legal rights and options Please visit Hertz Global Holdings, Inc. Shareholder Class Action Lawsuit or contact the Investor Relations Manager Peter Allocco at (212) 951-2030 or [email protected].

Since 1993, Bernstein Liebhard LLP has recovered over $3.5 billion for its clients. In addition to representing individual investors, the firm has been retained by some of the nation’s largest public and private pension funds to oversee their assets and litigate on their behalf. Because of its success in litigating hundreds of lawsuits and class action cases, the firm has been named to the National Law Journal’s “Plaintiffs’ Hot List” thirteen times and has been listed in The Legal 500 for sixteen consecutive years.

ATTORNEY ADVERTISING. © 2024 Bernstein Liebhard LLP. The law firm responsible for this advertising is Bernstein Liebhard LLP, 10 East 40th Street, New York, New York 10016, (212) 779-1414. Past results do not guarantee or predict a similar outcome with respect to future matters.

Contact information:

Peter Allocco
Investor Relations Manager
Bernstein Liebhard LLP
https://www.bernlieb.com
(212) 951-2030
[email protected]

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