We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

3rd Circ. Unconvinced Hertz Execs' 'Bad Tone' Indicated Fraud

Law360, Philadelphia (June 12, 2018, 9:17 PM EDT) -- A Third Circuit panel on Tuesday pressed two pension funds to show why Hertz Global Holdings Inc.’s misrepresentations about its financial status were intentionally misleading, as they alleged in their securities fraud class action, and not merely the result of mismanagement.

The three-judge panel hearing oral arguments in Philadelphia was tasked with reviewing whether or not a New Jersey federal judge properly found that Sheet Metal Workers Local 80 Pension Trust Fund and Westchester Teamsters Pension Fund failed to prove Hertz’s former executives knowingly — that...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.