Eos Energy stock falls after Fuzzy Panda issues short report
Hertz Global Holdings, Inc. (NASDAQ:HTZ), the $2.1 billion car rental company that has seen its stock surge nearly 96% over the past six months, announced Tuesday it has been notified that it will receive a settlement distribution of $154,054,348.07 in connection with its participation in the In re Automotive Parts Antitrust Litigation, No. 2:12-md-02311 (E.D. Mich.). The information was disclosed in a press release statement and detailed in a filing with the Securities and Exchange Commission.
The settlement amount reflects a gross distribution of $171,171,497.85, less applicable fees owed to Hertz’s claims administrator, Class Action Capital Recovery, LLC. The company expects to receive the payment on or around September 30.
The settlement relates to a class action lawsuit involving alleged antitrust violations in the automotive parts industry. The distribution will be made by the court-appointed Settlement Administrator, Epiq Class Action & Claims Solutions, Inc.
Hertz Global Holdings, Inc. and its subsidiary, The Hertz Corporation, are both parties to the settlement. The company’s common stock and warrants are listed on The Nasdaq Stock Market LLC under the symbols HTZ and HTZWW, respectively.
This report is based on a statement provided in the company’s recent SEC filing.
In other recent news, Hertz Global Holdings has announced several developments. The company reported that Eric Leef, Executive Vice President and Chief Human Resources Officer, intends to resign but will remain in his role through September 5, 2025, to assist with the transition. Christopher G. Berg will oversee the human resources function during this period. Hertz Car Sales has partnered with Amazon Autos to sell pre-owned vehicles online, initially launching in Dallas, Houston, Los Angeles, and Seattle, with plans to expand nationwide. Additionally, Hertz has expanded its Rent2Buy program to over 100 cities, allowing customers to test drive vehicles for up to three days before purchasing. This program includes 2025 models, and 80% of customers who use the service end up buying the vehicle. Jefferies maintained a Hold rating on Hertz, highlighting progress toward a $1 billion EBITDA goal. The company reported a net daily profit per unit of $251, with expectations of gross DPU reaching $300 in the second half of the year.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.