The class action, filed in the United States District Court for the Middle District of Florida as Schweitzer v. Hertz Global Holdings, Inc., claims that Hertz executives provided materially misleading statements about the company’s financial health. The complaint alleges that while the firm publicly insisted it had sufficient liquidity to fund operations for the next year, its cash position was actually deteriorating rapidly.

Market confidence collapsed on June 24, 2026, when Hertz announced a major dilutive capital raise, including $300 million in notes and a massive share-lending offering. The company simultaneously revealed that persistent softness in the used-car market had severely impacted second-quarter earnings. Following these disclosures, Hertz shares fell by more than 40%, closing at $3.00 per share. Law firm Kessler Topaz Meltzer & Check, LLP is currently coordinating with affected shareholders to discuss recovery options, noting that investors have until September 22, 2026, to file for lead plaintiff status.