NEW YORK--(BUSINESS WIRE)--The Rosen Law Firm, P.A. announces that it is investigating potential civil securities claims against Hertz Global Holdings, Inc. (NYSE:HTZ) resulting from allegations that Hertz may have issued materially inaccurate statements about its true financial condition and prospects.
On June 6, 2014, Hertz disclosed in a U.S. Securities and Exchange Commission (“SEC”) filing that its financial statements for 2011 should no longer be relied upon and must be restated. The restatement stems from errors regarding the capitalization and timing of depreciation for certain non-fleet assets, allowances for doubtful accounts in Brazil, as well as other items. Hertz also said its 2012 and 2013 financial statements will be corrected to reflect such errors. In reaction to this news, shares of Hertz fell $2.76, or over 9%, to close at $27.73 on June 6, 2014.
The Rosen Law Firm is preparing a securities class action lawsuit on behalf of Hertz’s investors. If you purchased Hertz’s stock prior to June 6, 2014 please visit the website at http://rosenlegal.com to join the class action. You may also contact Phillip Kim, Esq. or Kevin Chan, Esq. of The Rosen Law Firm toll free at 866-767-3653 or via e-mail at email@example.com or firstname.lastname@example.org.
The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.
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