NEW YORK, June 03, 2024 (GLOBE NEWSWIRE) -- Gainey McKenna & Egleston announces that a securities class action lawsuit has been filed in the United States District Court for the Middle District of Florida on behalf of all persons and entities who purchased securities of Hertz Global Holdings, Inc. (“Hertz” or the “Company”) (NASDAQ: HTZ) between April 27, 2023 and April 24, 2024, inclusive (the “Class Period”).
The Complaint alleges that Defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) Hertz had downplayed the financial impact of vehicle depreciation, and/or overstated its ability to track and manage vehicle depreciation; (2) demand for Hertz’s electric vehicles (“EVs”) was not as strong as defendants had led investors to believe; (3) Hertz had too many vehicles, particularly EVs, in its fleet to remain profitable; (4) as a result of all the foregoing, Hertz was likely to incur significant losses on the disposition of both its internal combustion engine (“ICE”) vehicles and EVs; (5) all the foregoing was likely to, and did, have a significant negative impact on Hertz’s financial results; and (6) as a result, Hertz’s public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
Investors who purchased or otherwise acquired shares of Hertz should contact the Firm prior to the July 30, 2024 lead plaintiff motion deadline. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at tjmckenna@gme-law.com or gegleston@gme-law.com.
Please visit our website at http://www.gme-law.com for more information about the firm.
