Kessler Topaz Meltzer & Check, LLP Reminds HTZ Investors of July 30, 2024 Deadline in Securities Fraud Class Action against of Hertz Global Holdings, Inc. (HTZ) and Urges Investors to Contact The Firm

Core Viewpoint - A securities class action lawsuit has been filed against Hertz Global Holdings, Inc. for alleged violations of federal securities laws, including fraudulent misrepresentations and omissions regarding the company's business and operations, leading to significant investor losses [1]. Financial Performance - Hertz reported an EPS of -$1.28 for Q1 2024, significantly below the consensus estimate of -$0.43 and a decline from the adjusted diluted EPS of $0.39 in the same period the previous year [3]. - The company experienced a $588 million increase in vehicle depreciation, equating to $339 per unit, primarily due to deteriorating estimated forward residual values and losses on internal combustion engine vehicles [3]. - Hertz recognized a $195 million charge to vehicle depreciation for writing down electric vehicles (EVs) held for sale to fair value [3]. Stock Market Reaction - Following the announcement of the Q1 2024 results, Hertz's stock price fell by $1.12, or 19.31%, closing at $4.68 per share on April 25, 2024 [12]. - Earlier, on January 11, 2024, Hertz's stock price dropped by $0.40, or 4.28%, to close at $8.95 per share after announcing the sale of approximately 20,000 EVs from its fleet [7]. Management Changes - Hertz's CEO and Chairman of the Board announced their resignation, with a new CEO appointed shortly thereafter [8].