An investigation for investors in Herc Holdings Inc (NYSE:HRI) shares over potential securities laws violations by Herc Holdings was announced and NYSE:HRI stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 08/15/2017 -- An investigation on behalf of investors of Herc Holdings Inc (NYSE:HRI) shares over potential securities laws violations by Herc Holdings in connection with certain financial statements was announced.
Investors who purchased shares of Herc Holdings Inc (NYSE:HRI), have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call 858-779-1554.
The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Herc Holdings Inc (NYSE:HRI) concerning whether a series of statements by Herc Holdings Inc regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Bonita Springs, FL based Herc Holdings Inc (NYSE:HRI) is an equipment rental supplier. On March 15, 2017, Herc Holdings Inc filed its annual report for 2016, advising investors that the Company had identified material weakness in its internal control over financial reporting. Herc Holdings Inc specifically cited, among other issues, ineffective design and maintenance of controls over accounting for payroll, income tax accounts, and relating to certain IT systems, as well as certain material weaknesses inherited from Hertz Holdings.
On August 8, 2017, Herc Holdings Inc filed a quarterly report for the second quarter of 2017, advising investors that the previously reported material weaknesses "were not remediated at June 30, 2017," that Herc Holdings Inc had "established a task force and assigned a working group to each of the material weaknesses," and that "[t]wo key accounting positions, Controller and Chief Accounting Officer and Assistant Controller, have been filled or replaced by the Company and four additional accounting supervisors have been hired during the six months ended June 30, 2017."
Shares of Herc Holdings Inc (NYSE:HRI) declined on August 10, 2017 to as low as $37.79 per share.
Those who purchased shares of Herc Holdings Inc (NYSE:HRI) have certain options and should contact the Shareholders Foundation.
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