Core Viewpoint - Moore Law, PLLC is investigating potential claims against Hertz Global Holdings Inc. regarding misleading statements related to vehicle depreciation and demand for electric vehicles (EVs) [1]. Group 1: Investigation Details - The investigation focuses on claims that Hertz downplayed the financial impact of vehicle depreciation and overstated its ability to manage it [1]. - It is alleged that demand for Hertz's EVs was not as strong as investors were led to believe, and that the company had an excessive number of vehicles, particularly EVs, in its fleet [1]. - As a result of these factors, Hertz is likely to incur significant losses on the sale of both internal combustion engine (ICE) vehicles and EVs, negatively impacting its financial results [1]. Group 2: Financial Impact - On January 11, 2024, Hertz announced plans to sell approximately 20,000 EVs, about one-third of its global EV fleet, to better align supply with expected demand [2]. - The company indicated that the fourth quarter of 2023 Adjusted Corporate EBITDA would be negatively affected by increased net depreciation expenses due to this sales plan, alongside higher ordinary depreciation expenses [2]. - Following this announcement, Hertz's stock price fell by $0.40 per share, or 4.28%, closing at $8.95 per share on the same day [2].