Schall, Brown & Schwartz LLP said it filed a federal securities class action on behalf of investors who purchased Hertz Global Holdings, Inc. common stock between May 7, 2026, and June 23, 2026. The complaint, Cameron Schweitzer v. Hertz Global Holdings, Inc. et al., No. 2:26-cv-02242, filed in the U.S. District Court for the Middle District of Florida, alleges that Hertz and certain senior executive officers violated the Securities Exchange Act of 1934. Investors have until Sept. 22, 2026, to seek appointment as lead plaintiff, a representative who directs litigation for other class members, although appointment is not required to participate in any recovery. The allegations center on Hertz statements about liquidity, vehicle depreciation and used-car market conditions. On May 7, the company reported a 13% year-over-year improvement in Net Depreciation per Unit per Month to $312 and approximately $837 million of liquidity, supplemented by roughly $200 million from an April financing. Hertz's Chief Financial Officer said liquidity was expected to reach just under $1 billion at the end of the second quarter and exceed $1.5 billion by year-end. The complaint alleges that Hertz's liquidity was deteriorating faster than disclosed, used-car market weakness was recurring rather than temporary, and a distressed, dilutive capital raise was likely. On June 24, Hertz announced a planned $300 million offering of Exchangeable Senior First-Lien Secured PIK Notes due 2030 and a share-lending offering involving more than 37 million shares, from which the company would receive no proceeds. It also said unexpected used-car market softness had caused losses on vehicle sales in May and would reduce second-quarter Adjusted Corporate EBITDA to $50 million-$80 million. Hertz shares fell more than 40% to close at $3 on June 24. The following day, the offering was priced at $350 million, with an option for up to $400 million, a 6.75% coupon, an exchange price of approximately $3.58 per share and borrowed shares sold to the public at $2.70. The class has not yet been certified.