NEW YORK, June 10, 2014 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of Hertz Global Holdings, Inc. ("Hertz" or the "Company"). Such investors are advised to contact Robert S. Willoughby at firstname.lastname@example.org or 888-476-6529, ext. 237.
The investigation concerns whether Hertz and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
On June 6, 2014, the Company announced in a Securities and Exchange Commission, (SEC) Form 8-K filing that, "Financial statements for 2011 should no longer be relied upon," the company said in the filing. "It will take time to complete this process, and previously reported information is likely to change." The errors were related to the depreciation of some of its non-fleet assets and an allowance for doubtful accounts in Brazil, among other items, the Company stated.
On this news, shares of Hertz fell $2.74 per share to $27.75, or more than 8.99%, in intraday trading on June 6, 2014.
The Pomerantz Firm, with offices in New York, Chicago, San Diego and Florida, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 70 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
CONTACT: Robert S. Willoughby Pomerantz LLP email@example.comSource:Pomerantz LLP