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Herc Holdings Inc. Shareholder Alert: Former SEC Attorney Willie Briscoe Investigates Possible Breaches of Fiduciary Duty by Officers and Directors

HRI | August 11, 2017

Herc Holdings Inc. Shareholder Alert: Former SEC Attorney Willie Briscoe Investigates Possible Breaches of Fiduciary Duty by Officers and Directors

Former United States Securities and Exchange Commission attorney Willie Briscoe, founder of The Briscoe Law Firm, PLLC, has launched an investigation of Herc Holdings Inc. (“Herc”) (NYSE: HRI) and several officers and directors for possible violations of federal securities laws.

The firm is investigating potential legal claims against the officers and Board of Directors of Herc. If you are an affected Herc shareholder and want to learn more about the investigation, contact Willie Briscoe at The Briscoe Law Firm, PLLC via email at shareholders@thebriscoelawfirm.com, or call toll free at (888) 809-2750. There is no cost or fee to you.

The firm’s investigation focuses on whether Herc and certain of its officers and/or directors violated certain provisions of the Securities Exchange Act of 1934. On March 15, 2017, Herc filed its annual report for 2016, advising investors that it identified material weakness in its internal control over financial reporting. In its report, Herc cited, among other issues, ineffective design and maintenance of controls over accounting for payroll, income tax accounts, and relating to certain IT systems, as well as certain material weaknesses inherited from Hertz Holdings. Then, on August 8, 2017, Herc filed its quarterly report for the second quarter of 2017, advising investors that the Company had “established a task force and assigned a working group to each of the material weaknesses,” and that “two key accounting positions, Controller and Chief Accounting Officer and Assistant Controller, have been filled or replaced by the Company and four additional accounting supervisors have been hired during the six months ended June 30, 2017.” On this news this, Herc’s stock price dropped significantly.

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.