NEW YORK, June 16, 2014 (GLOBE NEWSWIRE) -- The law firm Gardy & Notis, LLP has filed a securities fraud class action lawsuit on behalf of purchasers of Hertz Global Holdings, Inc. (NYSE:HTZ) securities stock during a class period of February 22, 2012 to June 6, 2014. The lawsuit was filed in the United States District Court for the District of New Jersey, and names Hertz Global Holdings, Inc., The Hertz Corporation, Mark P. Frissora (Chief Executive Officer), Thomas C. Kennedy (Chief Financial Officer), and Elyse Douglas (former Chief Financial Officer) as defendants.
The lawsuit alleges that, throughout the class period, Hertz issued financial statements that were not accurate, did not comply with Generally Accepted Accounting Principles (GAAP), and served to artificially inflate the market price of Hertz's publicly traded securities. Hertz announced on June 6 that its Audit Committee concluded that the financial statements for 2011 would need to be restated, and that the financial statements for 21012 and 2013 would have to be corrected.
If you purchased Hertz Global Holdings, Inc. (NYSE:HTZ) securities between February 22, 2012 and June 6, 2014, you may, no later than August 15, 2014, request that the Court appoint you as lead plaintiff. A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation, and you must meet certain legal requirements to serve as a lead plaintiff.
To learn more about the lawsuit or to obtain a copy of the complaint, please contact plaintiff's counsel, Mark C. Gardy at Gardy & Notis, LLP, Tower 56, 126 East 56th Street, New York, NY 10022, Telephone: 212-905-0509, Fax: 212-905-0508, email: mgardy@gardylaw.com.