INVESTOR DEADLINE APPROACHING: Faruqi & Faruqi, LLP Investigates Claims on Behalf of Investors of Hertz - Seite 2

On this news, Hertz's stock price fell $0.40 per share, or 4.28%, to close at $8.95 per share on January 11, 2024.

Then, on April 25, 2024, Hertz issued a press release announcing its first quarter 2024 results. Among other items, Hertz reported adjusted diluted earnings-per-share ("EPS") of -$1.28 for the quarter, well short of the consensus estimate of -$0.43, and far worse than the adjusted diluted EPS of $0.39 that the Company had achieved in the same period the year prior. In discussing these results, Hertz revealed that vehicle depreciation in the quarter increased $588 million, or $339 on a per-unit basis, primarily driven by deterioration in estimated forward residual values and disposition losses on ICE vehicles compared to gains in the prior-year quarter. The Company also disclosed that, of the $339 per unit increase, $119 was related to EVs held for sale. Moreover, Hertz reported a $195 million charge to vehicle depreciation to write down EVs held for sale that were remaining in inventory at quarter-end to fair value and to recognize the disposition losses on EVs sold in the period.

On this news, Hertz's stock price fell $1.12 per share, or 19.31%, to close at $4.68 per share on April 25, 2024.

The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.

Faruqi & Faruqi, LLP also encourages anyone with information regarding Hertz's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.

To learn more about the Hertz class action, go to www.faruqilaw.com/HTZ or call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).

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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/217345

The Hertz Global Holdings Stock at the time of publication of the news with a fall of -3,54 % to 3,81USD on Nasdaq stock exchange (23. Juli 2024, 23:30 Uhr).