Former United States Securities and Exchange Commission attorney Willie
Briscoe, founder of The
Briscoe Law Firm, PLLC, and the securities litigation firm of Powers
Taylor LLP announce that a federal class action lawsuit has been
filed against Hertz Global Holdings, Inc. (“Hertz” or “Company”) (NYSE:
HTZ). The firms are investigating additional legal claims against the
officers and Board of Directors of Hertz during the period of February
25, 2013 and November 4, 2013 (the “Class Period”).
If you are an affected investor and you want to learn more about the
lawsuit or join the action, contact Willie Briscoe at The Briscoe Law
Firm, PLLC, (214) 239-4568, or via email at WBriscoe@TheBriscoeLawFirm.com,
or Zachary Groover at Powers Taylor LLP, toll free (877) 728-9607, via
e-mail at shareholder@powerstaylor.com.
There is no cost or fee to you.
In a recently filed federal class action complaint, Hertz and certain of
its officers and directors were charged with violating certain
provisions of the Securities Exchange Act of 1934. Specifically, the
complaint alleges that among other things, defendants misrepresented
and/or failed to disclose that: (i) 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; (ii)
Hertz has significant undisclosed exposure to Advantage subsidiary
Simply Wheelz’s insolvency resulting from its having transferred much of
its older, less valuable fleet to Advantage in the divestiture and
valuing the fleet transferred to Advantage at improperly high prices;
(iii) Hertz and Advantage were engaged in a disagreement over the value
of the Advantage fleet assets; (iv) 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 (v) as a result of the
above, Defendants lacked a reasonable basis for their positive
statements about Hertz and its business, earnings and prospects.
The
Briscoe Law Firm, PLLC is a full service business litigation,
commercial transaction, and public advocacy firm with more than 20 years
of experience in complex litigation and transactional matters.
Powers
Taylor LLP is a boutique litigation law firm that handles a variety
of complex business litigation matters, including claims of investor and
stockholder fraud, shareholder oppression, shareholder derivative suits,
and security class actions.
Copyright Business Wire 2013