GlobeNewsWire
14 Aug 2026, 14:52 UTC · 1h ago
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A federal securities class action lawsuit has been filed against Hertz Global Holdings, Inc. alleging the company made materially false and misleading statements regarding its liquidity and used-car market stability. — Class action lawsuits create significant legal liabilities, reputational damage, and potential financial settlements that weigh on share prices.
-0.60Hertz experienced a stock price decline of over 40% on June 24, 2026, following the disclosure of unexpected softness in the used car market and a significant drop in projected second-quarter Adjusted Corporate EBITDA to $50 million–$80 million. — This reveals an immediate material degradation of the company's core profitability and the volatility of its primary revenue driver (residual vehicle values).
-0.50Hertz initiated a dilutive financing move involving the offer of $300 million to $400 million in Exchangeable Senior First-Lien Secured PIK Notes and a share-lending offering of over 37 million shares. — Dilutive capital raises reduce the value of existing shares and typically signal financial distress when conducted under pressure.
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The company is facing a securities class action lawsuit following a 40% stock price crash and allegations of misleading statements regarding liquidity and used-car market softness.
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