According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that:
- Hertz had downplayed the financial impact of vehicle depreciation, and/or overstated its ability to track and manage vehicle depreciation;
- demand for Hertz’s electric vehicles (“EVs”) was not as strong as defendants had led investors to believe;
- Hertz had too many vehicles, particularly EVs, in its fleet to remain profitable;
- as a result of all the foregoing, Hertz was likely to incur significant losses on the disposition of both its internal combustion engine (“ICE”) vehicles and EVs;
- all the foregoing was likely to, and did, have a significant negative impact on Hertz’s financial results; and
- as a result, Hertz’s public statements were materially false and misleading at all relevant times.
No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
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