Law Offices of Howard G. Smith announces that it is investigating
potential claims on behalf of shareholders of Hertz Global Holdings,
Inc. (“Hertz” or the “Company”) (NYSE:HTZ) concerning possible breaches
of fiduciary duties by the Company or its fiduciaries. The investigation
focuses on certain statements issued by the Company between February 25,
2013 and November 4, 2013.
Hertz engages in the car and equipment rental businesses worldwide. Its
rental car segment primarily appeals to higher-margin corporate
clientele. Following the December 2012 divestiture of the U.S.
operations of Advantage Rent A Car (“Advantage”), Hertz has increasingly
relied upon increased sales in the so-called “opaque” market, where
online customers are able to bid for travel-related products or services
without knowing the brand. The investigation is related to allegations
that the Company misrepresented or failed to disclose that: (1) Hertz
was losing sales in the important airport market, which offers higher
rental prices and margins than off-airport, longer-term “replacement
car” locations; (2) the Company had significant undisclosed exposure to
Advantage subsidiary Simply Wheelz’s insolvency; (3) Hertz and Advantage
were engaged in a disagreement over the value of the Advantage fleet
assets; and (4) Hertz was carrying the value of its fleet transferred to
Advantage and Simply Wheelz on its books at an artificially inflated
level.
If you purchased Hertz shares prior to February 25, 2013, and still hold
those shares, if you have information or would like to learn more about
these claims, or if you have any questions concerning this announcement
or your rights or interests with respect to these matters, please
contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith,
3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone
at (215) 638-4847, Toll Free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com,
or visit our website at www.howardsmithlaw.com.
Copyright Business Wire 2013