Strike Three for Hertz Shareholder Class Action
A federal judge has once again dismissed a putative class action lawsuit against Hertz Global Holdings by its shareholders—this time for good—finding no evidence to demonstrate the company knowingly hid financial problems in order to boost the price of its stock.
May 01, 2017 at 04:05 PM
3 minute read
A federal judge has once again dismissed a putative class action lawsuit against Hertz Global Holdings by its shareholders—this time with prejudice—finding no evidence to demonstrate the company knowingly hid financial problems in order to boost the price of its stock.
U.S. District Judge Madeline Cox Arleo of the District of New Jersey dismissed the suit in a 53-page decision issued April 27.
The lawsuit, seeking relief on behalf of a class of Hertz shareholders, was filed in 2013 by the Sheet Metal Workers Union Local No. 80 Pension Fund and the Westchester Teamsters Pension Fund.
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