Shareholder Suit Slams Hertz-Dollar Thrifty Merger

Law360, New York (May 5, 2010, 7:50 PM EDT) -- Shareholders of Dollar Thrifty Automotive Group Inc. have launched a putative class action accusing the rental car company of grossly undervaluing their securities in a proposed $1.2 billion merger with Hertz Global Holdings Inc., which is also targeted in the case.

Launched on Wednesday in the Delaware Chancery Court, the suit cites, among other things, the promise of a much higher acquisition offer from rival Avis Budget Group as proof the Hertz deal is “wrongful and unfair.”

Hertz announced in late April that it struck a...
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