Schall, Brown & Schwartz LLP, a national shareholder rights litigation firm, announces that it has filed a federal securities class action on behalf of purchasers of Hertz Global Holdings, Inc. (NASDAQ: HTZ) common stock between May 7, 2026 and June 23, 2026, inclusive (the “Class Period”). Hertz investors have until September 22, 2026 to seek appointment as lead plaintiff of the purported class in the Hertz class action lawsuit. The complaint in Cameron Schweitzer v. Hertz Global Holdings, Inc. et al., No. 2:26-cv-02242 (M.D. Fla.) charges Hertz and certain of Hertz’s top executive officers with violations of the Securities Exchange Act of 1934.
If you purchased Hertz Global Holdings, Inc. securities you may be entitled to compensation without payment of any out-of-pocket fees or costs. Shareholders who purchased shares of HTZ during the Class Period are encouraged to contact SBS to find out if they are eligible to recover their losses or move the court to serve as lead plaintiff of the purported class and lead this lawsuit. Appointment as lead plaintiff is not required to partake in any recovery. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.
CLASS PERIOD: May 7, 2026 to June 23, 2026
DEADLINE: September 22, 2026
If you are a shareholder who suffered a loss, click here to participate.
Details of the Case: Hertz is one of the largest vehicle rental companies in the world, renting cars and light trucks under the Hertz, Dollar, Thrifty, and Firefly brands at more than 11,000 locations in roughly 160 countries. The economics of the business turn on the fleet: Hertz buys hundreds of thousands of vehicles, finances most of them through asset-backed securitizations, and depends on reselling them into the used-car market at prices that hold up. Residual values and depreciation per unit are therefore central to whether the Company is profitable. After emerging from bankruptcy in 2021 and taking large write-downs on an ill-timed bet on electric vehicles, management launched a “Back-to-Basics” turnaround built around fleet discipline and cost control.
The Class Period begins on May 7, 2026, when Hertz announced its first quarter 2026 results, touting its “Strongest Revenue Growth in Three Years,” a 13% year-over-year improvement in Net Depreciation per Unit per Month to $312, and approximately $837 million of liquidity supplemented by roughly $200 million from an April financing. On that day’s earnings call, Hertz’s Chief Financial Officer told investors that the Company expected to end the second quarter with just under $1 billion of liquidity and to end the year “north of $1.5 billion.” The following day, Hertz filed its Form 10-Q, which stated that the Company’s cash, liquidity facilities, and refinancing options would be sufficient to fund its operating activities and obligations for the next twelve months and for the foreseeable future thereafter.
According to the complaint, those statements were materially false and misleading because: (i) 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; (ii) the 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 and Adjusted Corporate EBITDA; and (iii) as a result, Hertz was likely to undertake a dilutive, distressed capital raise that would materially harm existing shareholders.
On June 24, 2026, before the market opened — just weeks after assuring investors that its liquidity would carry the Company for at least twelve months — Hertz announced that a wholly owned indirect subsidiary 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 the Company would receive no proceeds. Hertz simultaneously disclosed that “unexpected softness in the used car market” had caused losses on the sale of vehicles in May 2026 and would drive second quarter Adjusted Corporate EBITDA down to a range of just $50 million to $80 million. On this news, the price of Hertz common stock declined more than 40%, closing at $3.00 per share on June 24, 2026. The next day, the offering priced on still more dilutive terms — upsized to $350 million (up to $400 million) at a 6.75% coupon, with an exchange price of approximately $3.58 per share, and with the borrowed common stock sold to the public at just $2.70 per share.
We encourage investors to contact Brian Schall, David Schwartz, and Adam Rosen of Schall, Brown & Schwartz LLP 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm’s website at www.schallfirm.com, or by email at bschall@schallfirm.com.
The class in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
Join the case to recover your losses
Why SBS: Schall, Brown & Schwartz LLP represents investors around the world, specializing in securities class action lawsuits and shareholder rights litigation. SBS brings together the extensive experience and diverse skillsets of founding partners Brian Schall, Andrew Brown, and David Schwartz. SBS attorneys are responsible for recovering over a billion dollars for violations of securities laws and corporate misfeasance.
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View source version on businesswire.com: https://www.businesswire.com/news/home/20260724474458/en/
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