Hertz Global Holdings
Robbins Arroyo LLP Is Investigating the Officers and Directors of Hertz Global Holdings, Inc. (HTZ) on Behalf of Shareholders
Robbins Arroyo LLP is investigating whether certain officers and directors of Hertz Global Holdings, Inc. (NYSE: HTZ) breached their fiduciary duties to shareholders. Hertz, though its subsidiaries, is engaged in car and equipment rentals worldwide.
Hertz to Restate Financial Statements Following Investigation
In a November 14, 2014 press release, Hertz announced that it would be restating financial statements for years 2011, 2012, and 2013. These restatements are the result of an ongoing accounting review and investigation by the audit committee of the Hertz board of directors that has so far revealed $87 million in errors and found weakness in the company’s internal controls. This is only one of the accounting issues Hertz has announced this year. In August, Hertz withdrew its 2014 guidance and in May it delayed releasing first quarter financial results after identifying errors.
The restatement of financial statements will further lengthen the timeline for the company to separate its equipment rental business. The restatements are expected to be completed, at the earliest, in mid-2015.
Hertz Shareholders Have Legal Options
Concerned shareholders who would like more information about their rights and potential remedies can contact attorney Darnell R. Donahue at (800) 350-6003, or you can complete the form below and we will contact you directly.