Hertz Global Holdings Inc. investors can proceed with a proposed class action alleging the car rental company over-invested in electric vehicles and then misrepresented demand for them, a federal court ruled.
The investors adequately pleaded securities fraud for two sets of statements, Judge Kyle C. Dudek said Oct. 10 for the US District Court for the Middle District of Florida. Some other statements targeted in the suit weren’t materially misleading and must be trimmed away, Dudek said.
The investors alleged that in 2021, Hertz announced an initial order of 100,000 Tesla vehicles as part of a mission to “offer the ...
Learn more about Bloomberg Law or Log In to keep reading:
Learn About Bloomberg Law
AI-powered legal analytics, workflow tools and premium legal & business news.
Already a subscriber?
Log in to keep reading or access research tools.