Multiple law firms filed a securities class action lawsuit against Hertz Global Holdings, Inc. The suit represents investors who purchased shares between February 2024 and February 2026.
The complaint alleges Hertz made materially false and misleading statements regarding its financial health. It claims the company failed to disclose that liquidity was deteriorating faster than reported.
Hertz allegedly lacked sufficient funds to support operations for the upcoming year. The lawsuit states the company required a dilutive financing round to maintain operations.
The filing also challenges company statements describing used-car market pressures as transitory. Plaintiffs argue these issues had a recurring negative impact on the business.
Hertz announced a major capital raise on June 24, 2026. This announcement triggered a stock price decline of more than 40%.