Hertz Global Holdings, Inc. Class Action Lawsuit - HTZ
Case Summary
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The Hertz class action lawsuit seeks to represent purchasers or acquirers of Hertz Global Holdings, Inc. (NASDAQ: HTZ) common stock between May 7, 2026 and June 23, 2026, inclusive (the “Class Period”). Captioned Schweitzer v. Hertz Global Holdings, Inc., No. 26-cv-02242 (M.D. Fla.), the Hertz class action lawsuit charges Hertz and certain of Hertz’ top executives with violations of the Securities Exchange Act of 1934.
If you suffered substantial losses and wish to serve as lead plaintiff of the Hertz class action lawsuit, please provide your information in the form on this page. You can also contact attorneys Ken Dolitsky or Michael Albert of Robbins Geller by calling 800/851-7783 or via e-mail at info@rgrdlaw.com. Lead plaintiff motions for the Hertz class action lawsuit must be filed with the court no later than September 22, 2026.
CASE ALLEGATIONS: Hertz is a global vehicle rental and mobility solutions provider.
The Hertz class action lawsuit alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (i) Hertz’s liquidity was deteriorating far more rapidly than represented, and Hertz’ available liquidity was not sufficient to fund its operations and obligations for the next twelve months without resorting to a distressed, dilutive financing; (ii) the softness in the used-car market that defendants had characterized as “isolated to the quarter” and “transitory” had in fact recurred and was materially depressing Hertz’ net depreciation per unit and Adjusted Corporate EBITDA; and (iii) as a result of the foregoing, Hertz was likely to undertake a dilutive, distressed capital raise that would materially harm existing shareholders.
On June 24, 2026, before the market opened, and just weeks after allegedly assuring investors that Hertz’ liquidity would be “sufficient to fund our operating activities and obligations for the next twelve months and for the foreseeable future thereafter” and projected year-end liquidity “north of $1.5 billion,” the complaint alleges that Hertz announced a massive dilutive capital raise. According to the Hertz class action lawsuit, Hertz intended to offer $300 million of Exchangeable Senior First-Lien Secured PIK Notes due 2030 through its wholly-owned indirect subsidiary, together with a concurrent share-lending offering of more than 37 million shares of common stock from which Hertz would receive no proceeds, and 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 stock declined more than 40%, according to the complaint.
The Hertz class action lawsuit further alleges that on June 25, 2026, the aforementioned 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.
THE LEAD PLAINTIFF PROCESS: The Private Securities Litigation Reform Act of 1995 permits any investor who purchased or acquired Hertz common stock during the Class Period to seek appointment as lead plaintiff in the Hertz class action lawsuit. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class. A lead plaintiff acts on behalf of all other class members in directing the Hertz class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the Hertz class action lawsuit. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff of the Hertz class action lawsuit.
ABOUT ROBBINS GELLER: Robbins Geller Rudman & Dowd LLP is one of the world’s leading law firms representing investors in securities fraud and shareholder rights litigation. Our Firm ranked #1 on the most recent ISS Securities Class Action Services Top 50 Report, recovering more than $916 million for investors in 2025. This marks our fourth #1 ranking in the past five years. And in those five years alone, Robbins Geller recovered $8.4 billion for investors – $3.4 billion more than any other law firm. With 200 lawyers in 10 offices, Robbins Geller is one of the largest plaintiffs’ firms in the world, and the Firm’s attorneys have obtained many of the largest securities class action recoveries in history, including the largest ever – $7.2 billion – in In re Enron Corp. Sec. Litig.