LOS ANGELES, July 28, 2026 (GLOBE NEWSWIRE) — The Portnoy Law Firm advises Hertz Global Holdings, Inc., (“Hertz” or the “Company”) (NASDAQ: HTZ) investors of a class action on behalf of investors that bought securities between February 19, 2025 and May 12, 2026, inclusive (the “Class Period”). Hertz investors have until September 22, 2026 to file a lead plaintiff motion.
Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 310-692-8883 or email: lesley@portnoylaw.com, to discuss their legal rights, or join the case via https://portnoylaw.com/hertz-global-holdings-inc. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.
The Hertz class action lawsuit alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (i) Hertz’s liquidity was deteriorating far more rapidly than represented, and Hertz’ 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 Hertz’ net depreciation per unit and Adjusted Corporate EBITDA; and (iii) as a result of the foregoing, Hertz was likely to undertake a dilutive, distressed capital raise that would materially harm existing shareholders.
On June 24, 2026, before the market opened, and just weeks after allegedly assuring investors that Hertz’ liquidity would be “sufficient to fund our operating activities and obligations for the next twelve months and for the foreseeable future thereafter” and projected year-end liquidity “north of $1.5 billion,” the complaint alleges that Hertz announced a massive dilutive capital raise. According to the Hertz class action lawsuit, Hertz intended to offer $300 million of Exchangeable Senior First-Lien Secured PIK Notes due 2030 through its wholly-owned indirect subsidiary, together with a concurrent share-lending offering of more than 37 million shares of common stock from which Hertz would receive no proceeds, and 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 stock declined more than 40%, according to the complaint.
The Hertz class action lawsuit further alleges that on June 25, 2026, the aforementioned 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.
The Portnoy Law Firm represents investors in pursuing claims caused by corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Lesley F. Portnoy, Esq.
Admitted CA, NY and TX Bar
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com
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