Hertz Investor Groups Shed Suit Over Stock Short-Swing Claim (1)

A Hertz Global Holdings Inc. shareholder’s allegations that a post-bankruptcy stockholder wrongly collected $127 million off short-swing transactions was tossed by a federal court Monday.

The plaintiff’s matching of the partnership’s sales with Hertz’s own stock repurchases would produce “absurd results” in a broad application of liability, Chief Judge Laura Taylor Swain of the US District Court for the Southern District of New York said in her order. Plaintiff Andrew Roth has filed “numerous” ...