Hertz Global Holding, Inc. Class Action Lawsuit - HTZ

Company: Hertz Global Holding, Inc.

Ticker: (NASDAQ) HTZ

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Days Left

Lead Plaintiff Deadline: September 22, 2026

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Certification of Plaintiff Pursuant to Federal Securities Laws

I, duly certify and say, as to the claims asserted under the federal securities laws, that:

1. I have reviewed a complaint filed in the action.

2. I did not purchase the security that is the subject of this action at the direction of plaintiff's counsel or in order to participate in this action.

3. I am willing to serve as a representative party on behalf of the class, including providing testimony at deposition and trial, if necessary.

4. My transaction(s) in Hertz Global Holding, Inc. which are the subject of this litigation during the class period set forth in the complaint are set forth in the chart attached hereto.

5. Within the last 3 years,



6. I will not accept any payment for serving as a representative party on behalf of the class beyond the Plaintiff's pro rata share of any recovery, except as ordered or approved by the court, including any award for reasonable costs and expenses (including lost wages) directly relating to the representation of the class.

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Signed pursuant to California Civil Code Section 1633.1, et seq. - and the Uniform Electronic Transactions Act as adopted by the various states and territories of the United States.

By your signature above, you confirm that have retained Levi & Korsinsky, LLP to represent you and the shareholder class as a lead plaintiff in the pending class action against Hertz Global Holding, Inc. This representation will be on a contingency basis, meaning that Levi & Korsinsky will advance all expenses in the litigation and will only seek compensation and/or reimbursement of expenses if the firm obtains a recovery. Regardless of the result, we will never ask you to directly pay for any attorneys’ fees, expenses, or costs. Should we obtain a favorable result, we may ask the court to award us compensation and reimbursement of expenses to be paid by the defendants or as a portion of any class recovery. In exchange for our representation, you agree to cooperate as our client by providing, for example, relevant documents and deposition testimony, if necessary. During the course of this litigation, we may employ and/or work with other law firms, experts, and third-parties to successfully prosecute this action. If you are not appointed as the lead plaintiff or Levi & Korsinsky is not appointed as lead counsel, we will notify you of such decision at which time this representation will end unless otherwise extended by you and the firm. We look forward to working with you towards a successful resolution of this action.

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Class Period

Begins

07

May 2026

Ends

23

Jun 2026

May 07, 2026 - June 23, 2026

Allegations

The filed complaint alleges that Hertz Global Holding, Inc. made materially false and/or misleading statements and/or failed to disclose that: (a) Hertz’s liquidity was deteriorating far more rapidly than represented, and the Company’s available liquidity was not sufficient to fund its operations and obligations for the next twelve months without resorting to a distressed, dilutive financing; (b) 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 the Company’s net depreciation per unit “DPU” and Adjusted Corporate EBITDA; (c) as a result of the foregoing, the Company was likely to undertake a dilutive, distressed capital raise that would materially harm existing shareholders; and (d) as a result of the foregoing, defendants’ positive statements about the Company’s business, operations, and liquidity position were materially false and misleading and lacked a reasonable basis at all relevant times.

Eligibility

In order to be eligible to join the HTZ class action lawsuit, you must have incurred a loss on shares of Hertz Global Holding, Inc. purchased during the class period listed above.

Lead Plaintiff Deadline

If you suffered a loss in Hertz Global Holding, Inc. during the relevant time frame, you have until September 22, 2026 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.

Hertz Global Holding, Inc.Class Action Lawsuit Details

Key Facts About Hertz Global Holdings, Inc. (NASDAQ: HTZ)

●       The Allegation: The complaint alleges Hertz overstated the strength of its liquidity position and turnaround metrics while failing to disclose that liquidity was deteriorating, used-car market softness was materially depressing net depreciation per unit and Adjusted Corporate EBITDA, and a dilutive capital raise was likely.

●       The Stock Drop: HTZ declined more than 40% to close at $3.00 per share on June 24, 2026, after Hertz announced a $300 million exchangeable note offering, a concurrent share-lending offering of more than 37 million shares, and second-quarter Adjusted Corporate EBITDA guidance of just $50 million to $80 million.

●       Class Period & Defendants: The class period runs from May 7, 2026 through June 23, 2026, inclusive. Defendants are Hertz Global Holdings, Inc., Wayne Gilbert West, Chief Executive Officer and board member since April 2024, and Scott M. Haralson, Executive Vice President and Chief Financial Officer since June 2024.

●       Lead Plaintiff Deadline: September 22, 2026. Investors who wish to seek appointment as lead plaintiff must apply by the deadline. No action is required before the deadline to remain part of the proposed class.

Hertz Global Class Action Summary

 

 

Company

Hertz Global Holdings, Inc. (NASDAQ: HTZ)

Lead Plaintiff Deadline

September 22, 2026

Class Period

May 7, 2026 – June 23, 2026

Stock Drop

June 24, 2026 – HTZ fell (more than 40%) to $3.00

Introduction

A securities class action lawsuit has been filed against Hertz Global Holdings, Inc. and two senior executives. The complaint seeks to represent investors who purchased or otherwise acquired Hertz common stock from May 7, 2026 through June 23, 2026.

The complaint alleges defendants made materially false and misleading statements about Hertz's liquidity and operating progress. It claims the company hid worsening liquidity, renewed used-car market weakness, and the likelihood of a dilutive financing.

Investors allegedly suffered losses when Hertz disclosed a large capital raise and weaker earnings outlook. HTZ fell more than 40% to close at $3.00 per share on June 24, 2026.

Company Profile

Hertz Global Holdings, Inc. is a global vehicle rental and mobility solutions provider headquartered in Estero, Florida. The company rents cars and light trucks under the Hertz, Dollar, Thrifty, and Firefly brands, sells used vehicles through Hertz Car Sales, and operates car-sharing services and mobility platforms.

Class Period

May 7, 2026 – June 23, 2026

Investors who purchased or acquired Hertz Global Holdings, Inc. (HTZ) securities during the Class Period may be eligible to seek recovery under federal securities laws.

Allegations

The complaint centers on Hertz's public statements about its liquidity, fleet discipline, and progress under its "Back-to-Basics" turnaround strategy. According to the lawsuit, Hertz told investors that its first-quarter 2026 results showed the company's strongest revenue growth in three years, improving net depreciation per unit, and a solid liquidity position.

On May 7, 2026, before the market opened, Hertz issued first-quarter 2026 results on Form 8-K. The release stated that net depreciation per unit was $312, approaching the company's "North Star" target, and that Hertz ended the quarter with approximately $837 million of liquidity. It also said an April financing added approximately $200 million. The complaint alleges these statements were materially false and misleading because they did not disclose that liquidity was deteriorating more rapidly than represented.

That same day, Hertz held an earnings conference call with analysts and investors. Chief Financial Officer Scott M. Haralson stated that Hertz ended the quarter with $837 million of liquidity and said the company expected to end the second quarter with just under $1 billion and the year with more than $1.5 billion. On May 8, 2026, Hertz filed its Form 10-Q for the quarter ended March 31, 2026, signed by Haralson and certified by Haralson and Chief Executive Officer Wayne Gilbert West. The Form 10-Q stated that the company's cash, liquidity facilities, and refinancing options "will be sufficient to fund our operating activities and obligations for the next twelve months and for the foreseeable future thereafter."

Plaintiffs allege defendants knew or recklessly disregarded that Hertz's available liquidity was not sufficient to fund operations and obligations for the next twelve months without a distressed, dilutive financing. The complaint also alleges that used-car market softness was not merely transitory, but had recurred and was materially depressing Hertz's net depreciation per unit and Adjusted Corporate EBITDA. As a result, the lawsuit claims defendants' positive statements about Hertz's business, operations, and liquidity position lacked a reasonable basis.

The Truth Emerges

The alleged truth emerged on June 24, 2026, before the market opened, when Hertz announced a capital raise through its wholly owned indirect subsidiary. The company said it 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 Hertz would receive no proceeds.

In the same announcement, Hertz disclosed that "unexpected softness in the used car market" had caused losses on vehicle sales in May 2026. The company also said this would drive second-quarter Adjusted Corporate EBITDA down to a range of just $50 million to $80 million. According to the complaint, those disclosures contradicted defendants' recent statements that Hertz had sufficient liquidity and was progressing toward its fleet and profitability targets.

The next day, the offering priced on terms the complaint describes as still more dilutive. The transaction was upsized to $350 million, up to $400 million, carried a 6.75% coupon, had an exchange price of approximately $3.58 per share, and included borrowed common stock sold to the public at $2.70 per share.

Market Reaction

Following the June 24, 2026 disclosure, Hertz common stock declined more than 40% and closed at $3.00 per share. The complaint alleges this decline reflected the market's reaction to the financing, the share-lending offering, and the disclosure that used-car market weakness had reduced expected second-quarter Adjusted Corporate EBITDA.

The complaint does not provide a per-share dollar decline or trading volume data for June 24, 2026. It alleges that shareholders who purchased Hertz common stock during the Class Period suffered financial losses as prior artificial inflation came out of HTZ's stock price.

Next Steps

●       Lead Plaintiff Deadline: September 22, 2026

●       After the lead plaintiff deadline, the Court will consider any lead plaintiff motions.

●       Defendants may file a motion to dismiss.

●       If the case proceeds, the Court may later consider class certification.

Disclaimer: This shareholder alert is for informational purposes only and does not constitute legal advice. Consult a qualified attorney for personalized guidance. Prior results do not guarantee similar outcomes.