Brower Piven, A Professional Corporation announces that a class action
lawsuit has been commenced in the United States District Court for the
District of New Jersey on behalf of purchasers of Hertz Global Holdings,
Inc. (“Hertz” or the “Company”) (NYSE: HTZ) common stock during the
period between February 25, 2013 and November 4, 2013, inclusive (the
“Class Period”).
If you have suffered a net loss from investment in Hertz Global
Holdings, Inc. common stock purchased on or after February 25, 2013, and
held through any of the revelations of negative information on September
26, 2013 and/or November 4, 2013, as described below, at no cost to you,
you may obtain additional information about this lawsuit and your
ability to become a lead plaintiff by contacting Brower Piven at www.browerpiven.com,
by email at hoffman@browerpiven.com,
by calling 410/415-6616, or at Brower Piven, A Professional Corporation,
1925 Old Valley Road, Stevenson, Maryland 21153. Attorneys at Brower
Piven have combined experience litigating securities and class action
cases of over 60 years.
No class has yet been certified in the above action. Members of the
Class will be represented by the lead plaintiff and counsel chosen by
the lead plaintiff. If you wish to choose counsel to represent you and
the Class, you must apply to be appointed lead plaintiff no later than
January 21, 2014 and be selected by the Court. The lead plaintiff will
direct the litigation and participate in important decisions including
whether to accept a settlement and how much of a settlement to accept
for the Class in the action. The lead plaintiff will be selected from
among applicants claiming the largest loss from investment in the
Company during the Class Period.
The complaint accuses the defendants of violations of the Securities
Exchange Act of 1934 by virtue of the defendants’ failure to disclose
during the Class Period that the Company was losing sales in its airport
market, that the Company had significant undisclosed exposure to
Advantage subsidiary Simply Wheelz’s insolvency, that the Company and
Advantage were engaged in a disagreement over the value of the Advantage
fleet assets, and that the Company was carrying the value of the fleet
transferred to Advantage and Simply Wheelz on its books at an inflated
level. According to the complaint, following the Company’s September 26,
2013 disclosure that it was revising its full year 2013 guidance, and
the Company’s November 4, 2013 disclosure that Hertz’s net income had
fallen during the third quarter of 2012 and that Hertz faced significant
exposure to Simply Wheelz’s insolvency, the value of Hertz shares
declined significantly.
If you choose to retain counsel, you may retain Brower Piven without
financial obligation or cost to you, or you may retain other counsel of
your choice. You need take no action at this time to be a member of the
class.
Copyright Business Wire 2013