The legal action, filed by Pomerantz LLP, targets Hertz following a volatile session on June 24, 2026. Just weeks after management publicly assured investors that liquidity would remain strong—projecting year-end levels exceeding $1.5 billion—the company announced a dilutive capital raise alongside a sharp downward revision to its second-quarter EBITDA. The firm now anticipates Adjusted Corporate EBITDA to land between $50 million and $80 million, citing unexpected losses on vehicle sales.

Market reaction to the dual announcement was immediate and severe. Shares of Hertz tumbled $2.06, a 40.71% decline, closing at $3.00 per share. Shareholders who acquired securities during the defined class period must decide whether to seek appointment as Lead Plaintiff by September 22, 2026. Interested parties are directed to contact Danielle Peyton at Pomerantz LLP to review the complaint and their eligibility for the proceedings.