A securities class action has been filed against Hertz Global Holdings on behalf of investors who purchased common stock between February 28, 2024 and February 25, 2026, with a lead plaintiff deadline of September 22, 2026. The lawsuit alleges Hertz made materially false or misleading statements about its liquidity and the impact of used-car market softness, and that the company was likely to undertake a dilutive, distressed capital raise that would harm shareholders. On June 24, 2026, Hertz announced a $300 million exchangeable notes offering and a share-lending of over 37 million shares, disclosing that unexpected used-car market weakness would cut second-quarter Adjusted Corporate EBITDA to $50 million to $80 million, causing the stock to drop more than 40% to $3.00 per share. The next day, the offering was upsized to $350 million with a 6.75% coupon and an exchange price of approximately $3.58 per share, while borrowed common stock was sold to the public at $2.70 per share. Robbins LLP is representing investors on a contingency fee basis, and investors do not need to serve as lead plaintiff to potentially share in any recovery.
Hertz Global Holdings IncLawsuit alleges misstatements about liquidity and used-car market impact, and dilutive capital raise announced.