Hertz Sued Over Misleading Financial And Spinoff Statements

Law360, Washington (November 20, 2013, 8:16 PM EST) -- Hertz Global Holdings Inc. was hit with a putative class action in New Jersey federal court Wednesday accusing it of misleading investors about its projected financial results and the spinoff of its Advantage Rent A Car unit, allegedly resulting in them paying inflated stock prices.

According to plaintiff Pedro Ramirez Jr., the rental car company and two of its senior brass had misled investors about its financial prospects throughout 2013, resulting in a significant stock price drop when it was forced to publicly reveal its problems...
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