NEW YORK, Aug. 03, 2026 (GLOBE NEWSWIRE) -- Levi & Korsinsky, LLP notifies investors in Hertz Global Holdings, Inc. (NASDAQ: HTZ) that a class action has been filed on behalf of shareholders who purchased securities between May 7, 2026 and June 23, 2026. See if you could be eligible to recover or call (212) 363-7500.
Hertz common stock fell more than 40% to close at $3.00 on June 24, 2026. Investors have until September 22, 2026 to seek lead plaintiff status.
Hertz Timeline Disclosure Events: From Assurance to Capital Raise
The complaint recounts a compressed sequence of events beginning on May 7, 2026, when Hertz reported Q1 2026 results emphasizing $837 million of liquidity, $200 million in additional April ABS financing, and progress toward its Net Depreciation per Unit target. The lawsuit alleges those statements gave investors a misleading impression that Hertz had sufficient liquidity and that its fleet management strategy was stabilizing vehicle depreciation.
On May 8, 2026, Hertz filed its Form 10-Q, which stated that cash, liquidity facilities, and refinancing options would be sufficient to fund operating activities and obligations for the next twelve months and beyond. As detailed in the action, that assurance allegedly failed to disclose that liquidity pressures and used-car market weakness were materially more severe than represented.
Chronology of Alleged Disclosure Failures
- May 7, 2026: Hertz reported Q1 revenue of $2.0 billion, up 11% year over year, while highlighting liquidity and fleet-discipline metrics.
- May 8, 2026: The Company filed its Form 10-Q containing liquidity sufficiency language tied to the next twelve months and the foreseeable future.
- June 24, 2026: Hertz announced $300 million of Exchangeable Senior First-Lien Secured PIK Notes due 2030 and a share-lending offering of more than 37 million shares.
- June 24, 2026: Hertz also disclosed unexpected softness in the used-car market and Q2 Adjusted Corporate EBITDA guidance of only $50 million to $80 million.
- June 25, 2026: The offering was priced on more dilutive terms, upsized to $350 million, with potential expansion to $400 million.
Alleged Investor Harm as the Timeline Tightened
The filing states that investors allegedly learned within weeks that Hertz would pursue a distressed financing despite prior statements about liquidity sufficiency. The complaint further contends that the June 24 disclosure corrected prior alleged misstatements concerning used-car market conditions, residual values, and the Company’s ability to manage depreciation through its Back-to-Basics strategy.
'Timely disclosure of material developments is fundamental to fair and efficient markets. Here, the complaint alleges that Hertz investors received liquidity and fleet-management assurances shortly before a dilutive financing and a major guidance reduction.' -- Joseph E. Levi, Esq.
Calculate your potential recovery or call (212) 363-7500.
Levi & Korsinsky, LLP — Top 50 securities litigation firm (ISS, seven consecutive years). Over 70 professionals. Hundreds of millions recovered.**
Frequently Asked Questions About the HTZ Lawsuit
Q: How much did HTZ stock drop? A: Hertz shares fell more than 40% to close at $3.00 on June 24, 2026, after the Company disclosed unexpected softness in the used-car market, a dilutive financing, and reduced Q2 Adjusted Corporate EBITDA guidance.
Q: What specific misstatements does the HTZ lawsuit allege? A: The complaint alleges Hertz made materially false or misleading statements regarding liquidity sufficiency, used-car market stability, Net Depreciation per Unit, and the Company’s ability to manage fleet residual values during the Class Period.
Q: When did Hertz Global Holdings, Inc. allegedly mislead investors? A: The Class Period runs from May 7, 2026 to June 23, 2026. The complaint alleges that later disclosures revealed information that caused a significant stock decline.
Q: What is a lead plaintiff and why does it matter? A: A lead plaintiff is the investor appointed by the court to represent the entire class. Lead plaintiffs are typically investors with the largest documented losses. Being appointed does not increase individual recovery but gives direct oversight of how the case is run.
Q: What happens after I contact Levi & Korsinsky? A: An attorney will review your trading history at no cost and provide an initial assessment of your potential eligibility.
Q: What if I already sold my HTZ shares, can I still recover losses? A: Yes. Eligibility is based on when you purchased, not whether you still hold the shares. Investors who bought during the Class Period and sold at a loss may still be eligible to participate.
Q: Do I need to go to court or give testimony? A: No. The overwhelming majority of class members never appear in court or give depositions. If there is a settlement or recovery, eligible class members generally submit a claim form to seek their portion.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 27th Floor
New York, NY 10004
jlevi@levikorsinsky.com
Tel: (212) 363-7500
Fax: (212) 363-7171
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