Shareholders Foundation, Inc.

Hertz Global Holdings, Inc. (NYSE:HTZ) Investor Alert: Lawsuit Alleges False and Misleading Statements

A lawsuit was filed on behalf of investors in Hertz Global Holdings, Inc. (NYSE:HTZ) shares over alleged securities laws violations. Deadline: August 15, 2014. NYSE:HTZ investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com

 
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San Diego, CA -- (SBWIRE) -- 06/23/2014 -- An investor, who purchased shares of Hertz Global Holdings, Inc. (NYSE:HTZ), filed a lawsuit in the U.S. District Court for the District Court for the District of New Jersey over alleged violations of Federal Securities Laws by Hertz Global Holdings, Inc. in connection with certain allegedly false and misleading statements made between February 22, 2012 to June 6, 2014.

Investors who purchased shares Hertz Global Holdings, Inc. (NYSE:HTZ) have certain options and for certain investors are short and strict deadlines running. Deadline: August 15, 2014. NYSE:HTZ investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

According to the complaint the plaintiff alleges on behalf of purchasers of Hertz Global Holdings, Inc. (NYSE:HTZ) common shares between February 22, 2012 to June 6, 2014, that the defendants violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.

The plaintiff claims that Hertz Global Holdings, Inc issued financial statements that were not accurate, did not comply with Generally Accepted Accounting Principles (GAAP), and served to artificially inflate the market price of Hertz Global Holdings, Inc's publicly traded securities

Hertz Global Holdings, Inc. reported that its annual Total Revenue rose from over $7.56 billion in 2010 to over $10.77 billion in 2013 and that its Net Loss of $53.30 million turned into a Net Incomr og $346.50 million in 2013. Shares of Hertz Global Holdings, Inc. (NYSE:HTZ) grew from $8.90 per share in September 2011 to as high as $30.49 per share on June 5, 2014.

Then on June 6, 2014, Hertz Global Holdings, Inc. disclosed in a filing with the SEC that on May 13, 2014, each of Hertz Global Holdings, Inc. and The Hertz Corporation (collectively referred to herein as “Hertz” or the “Company”) delayed the filing of its Form 10-Q for the period ended March 31, 2014. Hertz Global Holdings, Inc. said that during the preparation of the First Quarter 10-Q, errors were identified relating to Hertz’s conclusions regarding the capitalization and timing of depreciation for certain non-fleet assets, allowances for doubtful accounts in Brazil, as well as other items. Furthermore, Hertz Global Holdings, Inc. said that the Audit Committee has concluded that the financial statements for 2011 should no longer be relied upon, and Hertz must restate them, and that Hertz also needs to correct the 2012 and 2013 financial statements to reflect these errors.

Shares of Hertz Global Holdings, Inc. (NYSE:HTZ) dropped from over $30 per share on June 5, 2014, to as low as $26.24 per share during June 10, 2014.

On June 20, 2014, NYSE: HTZ shares closed at $28.64 per share.

Those who purchased shares of Hertz Global Holdings, Inc. (NYSE:HTZ) have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Trevor Allen
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com