Hertz Reaches $10 Million Settlement in Investors’ EV Demand Row

Hertz Global Holdings Inc. agreed to fork over $10 million to investors to resolve allegations the rental car company misrepresented demand for its electric vehicles.

The proposed settlement class would include those who acquired Hertz stock from Jan. 6, 2023, to April 24, 2024, the investor leading the case said in a filing May 15 seeking preliminary approval of the deal. If approved in the US District Court for the Middle District of Florida, the agreement would end allegations tied to Hertz’s big bet on EVs.

• The investor adequately pleaded securities fraud for two sets of statements, Judge Kyle C. ...