Hertz Global Holdings, Inc. NASDAQ: HTZ

A securities class action has been filed on behalf of investors who purchased or otherwise acquired Hertz Global Holdings, Inc. (“Hertz” or the “Company”) (NASDAQ: HTZ) common stock between May 7, 2026 and June 23, 2026, inclusive (the “Class Period”).

The complaint alleges that Hertz made materially false and misleading statements and/or failed to disclose that: (i) Hertz's liquidity was deteriorating far more rapidly than represented, and its available liquidity was not sufficient to fund operations and obligations for the next twelve months without a distressed, dilutive financing; (ii) softness in the used-car market that the Company had previously characterized as “isolated to the quarter” and “transitory” had in fact recurred and was materially depressing net depreciation per unit (“DPU”) and Adjusted Corporate EBITDA; (iii) as a result, Hertz was likely to undertake a dilutive, distressed capital raise that would materially harm existing shareholders; and (iv) as a result, defendants' positive statements about Hertz's business, operations, and liquidity position were materially false and misleading and lacked a reasonable basis.

On May 7, 2026, Hertz reported first-quarter results, telling investors it had approximately $837 million in liquidity plus an additional $200 million in ABS financing completed in April, and represented that liquidity and refinancing options were sufficient for the next twelve months and beyond. On June 24, 2026, before markets opened, Hertz announced a $300 million Exchangeable Senior First-Lien Secured PIK Notes offering and a concurrent share-lending transaction involving more than 37 million shares, citing “unexpected softness in the used car market,” alongside sharply reduced second-quarter Adjusted Corporate EBITDA guidance of $50–80 million. The offering was upsized the next day to $350 million, with a potential increase to $400 million, and borrowed shares were sold at $2.70 per share. On this news, Hertz's stock fell more than 40%, closing at $3.00 per share on June 24, 2026.

The complaint contends that the size and terms of the financing — arriving weeks after Hertz had assured investors its liquidity was “sufficient... for the next twelve months and for the foreseeable future thereafter” and projected year-end liquidity “north of $1.5 billion” — reflect that the true liquidity and used-car-market picture was materially worse than what had been disclosed.