This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Shareholder Rights Law Firm Johnson & Weaver, LLP Announces Investigation Of Hertz Global Holdings, Inc.

Stocks in this article: HTZ

Shareholder Rights Law Firm Johnson & Weaver, LLP is investigating whether certain officers or directors of Hertz Global Holdings, Inc. (NYSE: HTZ) violated state or federal laws in connection with statements regarding Hertz business, operations and financial prospects. A class action lawsuit against the Company has already been filed on behalf of shareholders who purchased Hertz between February 25, 2013 and November 4, 2013 (the “Class Period”). Frank Johnson, partner at Johnson & Weaver, had this to say about the lawsuit: “If the Company’s officers or directors are responsible for the damage to the Company, then they should be held accountable rather than the Company and its shareholders.”

The complaint alleges that during the Class Period, defendants issued materially false and misleading statements regarding the Company’s financial performance and future prospects, failing to disclose that: (a) Hertz was losing sales in the all-important airport market, which offers higher rental prices and margins than off-airport, longer-term “replacement car” locations; (b) Hertz had significant undisclosed exposure to the insolvency of Advantage Rent A Car (“Advantage”) subsidiary Simply Wheelz LLC (“Simply Wheelz”), a wholly-owned subsidiary of Hertz that operated its Advantage business; (c) Hertz and Advantage were engaged in a disagreement over the value of the Advantage fleet assets; (d) Hertz was carrying the value of its fleet transferred to Advantage and its subsidiary Simply Wheelz on its books at an artificially inflated level; and (e) as a result of the foregoing, Hertz lacked a reasonable basis for the positive statements about its business, earnings and prospects during the Class Period.

If you have held shares continuously since February 2013 or earlier, you may have standing to hold the Company harmless from the damage the officers and directors caused by making them personally responsible. You may also be able to assist in reforming the Company’s corporate governance to prevent future wrongdoing.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,677.90 +216.58 1.32%
S&P 500 1,950.82 +23.71 1.23%
NASDAQ 4,452.7920 +69.9450 1.60%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs