NEW YORK, Aug. 11, 2026 /PRNewswire/ -- Wolf Haldenstein Adler Freeman & Herz LLP, a nationally recognized securities litigation law firm, informs investors that a securities fraud class action lawsuit has been filed against Hertz Global Holding, Inc. (NASDAQ: HTZ) ("Hertz" or the "Company"), on behalf of those who purchased or acquired Hertz common stock between May 7, 2026 and June 23, 2026, inclusive. Â
Investors who purchased Hertz shares during the class period and suffered losses may be eligible to participate in the case, with the lead-plaintiff deadline set for September 22, 2026.
The Class Period begins on May 7, 2026, when Hertz issued a release announcing the Company's Q1 2026 financial and operating results on Form 8-K, highlighting the Company's "Strongest Revenue Growth in Three Years" and emphasizing its improved DPU metrics and solid liquidity and capital position. The following day, Hertz stated that the Company's cash, liquidity facilities, and refinancing options would be sufficient to fund its operating activities and obligations for the next twelve months and for the near future.
On June 24, 2026, just weeks after assuring investors that its liquidity would carry the Company for at least twelve months, Hertz announced that a wholly owned indirect subsidiary intended to offer $300 million of Exchangeable Senior First-Lien Secured PIK Notes due 2030, together with a concurrent share-lending offering of more than 37 million shares of common stock from which the Company would receive no proceeds. Hertz simultaneously disclosed that "unexpected softness in the used car market" had caused losses on the sale of vehicles in May 2026 and would drive second quarter Adjusted Corporate EBITDA down to a range of just $50 million to $80 million.
On this news, the price of Hertz common stock declined more than 40%, closing at $3.00 per share on June 24, 2026.
The next day, the offering priced on still more dilutive terms, upsized to $350 million (up to $400 million) at a 6.75% coupon, with an exchange price of approximately $3.58 per share, and with the borrowed common stock sold to the public at just $2.70 per share.
This illustrious firm, founded in 1888, is steadfast in their pursuit of justice for investors who have suffered financial harm due to these misrepresented statements. The law firm brings to the fore over 125 years of legal expertise in securities litigation and has a proven record of protecting the rights of investors.
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Keep it Clean. Please avoid obscene, vulgar, lewd, racist or sexually-oriented language.
PLEASE TURN OFF YOUR CAPS LOCK.
Don't Threaten. Threats of harming another person will not be tolerated.
Be Truthful. Don't knowingly lie about anyone or anything.
Be Nice. No racism, sexism or any sort of -ism that is degrading to another person.
Be Proactive. Use the 'Report' link on each comment to let us know of abusive posts.
Share with Us. We'd love to hear eyewitness accounts, the history behind an article.