Hertz Global to pay $16 million fine to settle accounting case: SEC

A sign is posted in front of a Hertz car sales and rental car office on August 8, 2017 in South San Francisco, California.
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A sign is posted in front of a Hertz car sales and rental car office on August 8, 2017 in South San Francisco, California.

Hertz has agreed to pay a $16 million fine to settle a case over accounting misstatement, the U.S. Securities and Exchange Commission (SEC) said in an order filed on Monday.

Beginning in 2012, "Hertz's public filings materially misstated pretax income because of accounting errors made in a number of business units, and over multiple reporting periods," the regulator said in its cease and desist order.

The car rental company did not admit or deny the regulator's findings but agreed to pay the fine, the order said.