NEW YORK, June 18, 2014 (GLOBE NEWSWIRE) -- Pomerantz LLP announces that a class action lawsuit has been filed against Hertz Global Holdings, Inc. ("Hertz" or the "Company") (NYSE:HTZ) and certain of its officers. The class action, filed in United States District Court, District of New Jersey, is on behalf of a class consisting of all persons or entities who purchased or otherwise acquired Hertz securities between February 22, 2012 and June 6, 2014 both dates inclusive (the "Class Period"). This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws pursuant to Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder.
If you are a shareholder who purchased Hertz securities during the Class Period, you have until August 15, 2014 to ask the Court to appoint you as Lead Plaintiff for the class. A copy of the Complaint can be obtained at www.pomerantzlaw.com. To discuss this action, contact Robert S. Willoughby at firstname.lastname@example.org or 888.476.6529 (or 888.4-POMLAW), toll free, x237. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and number of shares purchased.
The complaint alleges that throughout the Class Period, Hertz and certain of its officers violated the federal securities laws by disseminating false and misleading statements to the investing public.
Specifically, Hertz issued financial statements that were not accurate, and did not comply with Generally Accepted Accounting Principles (GAAP), which artificially inflated the market price of Hertz's publicly traded securities. Hertz announced on June 6 that its Audit Committee concluded that the financial statements for 2011 would need to be restated, and that the financial statements for 2012 and 2013 would have to be corrected.
On this news, shares of Hertz declined $2.76 per share, or nearly 9.05%, to close on June 6, 2014, at $27.73 per share.
The Pomerantz Firm, with offices in New York, Chicago, Florida, and San Diego, 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