Hertz Investor Brings Class Suit Over Electric Car Statements

A Hertz Global Holdings Inc. shareholder alleges that the vehicle rental company misled investors over the impact its vehicle fleet, specifically electric vehicles, had on the company’s bottom line.

Edward Doller said that measuring depreciation, or “the decrease in value of the various vehicles” in Hertz’s fleet, is critical to its ability to make a profit. But, according to his complaint filed in the US District Court for the Middle District of Florida, Hertz failed to disclose that it had too many vehicles in its fleet to make a profit after it had significantly expanded its electric vehicle holdings. ...