Hertz was advised by the SEC’s Division of Corporation Finance that it intended to review the plan, at which point the plan was suspended.
By agreeing to pay the fine, Hertz did not admit to or deny the SEC's claims.
The board of directors at Hertz Global Holdings has approved the announced separation of its car rental and equipment rental businesses. The equipment rental company will change its name to Herc Holdings Inc.
As part of an agreement with SRS Investment Management, Avis Budget Group has increased its share repurchase authorization by $300 million and appointed a new director on its board.
Hertz Global Holdings Inc. filed its initial SEC Form 10 registration statement, which details the separation of its equipment rental business as a stand-alone, publicly traded company.
On Tuesday Aug. 11, Hertz Global Holdings Inc. will host a live webcast discussion of its 2015 second quarter financial results.
The restatements reduced Hertz’s profits by a cumulative $128 million for years 2011, 2012 and 2013, or nearly 20% of previously stated profits. Richard Broome resigns.
As a result of Hertz Global Holding Inc.’s ongoing review and investigation of internal financial records for fiscal years 2011, 2012 and 2013, Hertz was unable to file the Securities and Exchange Commission’s 2014 Form 10-K by the extended due date of March 17, 2015.
In addition to releasing its rental revenue for fourth quarter 2014, Hertz Global Holdings Inc. also announced 21% of its new fleet was delivered and review and investigation of its financial records are ongoing.
This year has been one of turmoil and change for the Hertz Corp., as it parted ways with its CEO and has yet to file a financial report in 2014.
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