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Former SEC chief Harvey Pitt on regulatory concerns surrounding Hertz stock sale

Hertz warns potential buyers in its common stock offering that it's almost certain the equity will become worthless. In an SEC filing on Monday, Hertz announced it would sell up to $500 million in stock, this is following a bankruptcy judge's approval for Hertz to seal up to $1 billion in common stock. Harvey Pitt, CEO of global strategic consulting firm Kalorama partners and former SEC Chairman, joins "Squawk Box" to discuss.
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Tue, Jun 16 20208:10 AM EDT