Ryan & Maniskas, LLP Announces Class Action Lawsuit Against Hertz Global Holdings,... -- WAYNE, Pa., Dec. 4, 2013 /PRNewswire/ -- Ryan & Maniskas, LLP. PRNewsFoto/Ryan & Maniskas, LLP WAYNE, Pa., Dec. 4, 2013 /PRNewswire/ -- Ryan & Maniskas, LLP announces that a class action lawsuit has been filed in the United States District Court for the District of New Jersey on behalf of purchasers of Hertz Global Holdings, Inc. ("Hertz") (NYSE: HTZ) common stock during the period between February 25, 2013 and November 4, 2013 (the "Class Period"). Logo: http://photos.prnewswire.com/prnh/20121112/MM11729LOGO For more information regarding this class action suit, please contact Ryan & Maniskas, LLP (Richard A. Maniskas, Esquire) toll-free at (877) 316-3218 or by email at rmaniskas@rmclasslaw.com or visit: www.rmclasslaw.com/cases/htz. The complaint charges Hertz and certain of its officers and directors with violations of the Securities Exchange Act of 1934. Hertz, based in Park Ridge, New Jersey, is one of the nation's largest automobile and equipment rental companies. The complaint alleges that during the Class Period, defendants issued materially false and misleading statements regarding the Company's financial performance and future prospects, failing to disclose that: (a) Hertz was losing sales in the all-important airport market, which offers higher rental prices and margins than off-airport, longer-term "replacement car" locations; (b) Hertz had significant undisclosed exposure to the insolvency of Advantage Rent A Car ("Advantage") subsidiary Simply Wheelz LLC ("Simply Wheelz"), a wholly-owned subsidiary of Hertz that operated its Advantage business; (c) Hertz and Advantage were engaged in a disagreement over the value of the Advantage fleet assets; (d) Hertz was carrying the value of its fleet transferred to Advantage and its subsidiary Simply Wheelz on its books at an artificially inflated level; and (e) as a result of the foregoing, Hertz lacked a reasonable basis for the positive statements about its business, earnings and prospects during the Class Period. After reporting quarter after quarter of purportedly "record" financial results during the Class Period, which defendants claimed supported the Company's strong fiscal 2013 guidance, suddenly, on September 26, 2013, Hertz issued a press release entitled "Hertz Revises Full Year 2013 Guidance." The release made substantial revisions to the guidance the Company had consistently maintained it was on track to reach since February 2013. On this news, the price of Hertz stock fell by more than $4 per share, or 16%, to close at $21.63 per share. Then, on November 4, 2013, after the close of trading, Hertz issued a press release announcing its third quarter 2013 financial results for the quarter ended September 30, 2013. The release disclosed that on a GAAP basis, Hertz's net income fell to $214.7 million, or $0.47 per share, from $242.9 million, or $0.55 per share, in the third quarter of 2012, and disclosed for the first time Hertz's exposure to Simply Wheelz's insolvency. The next morning, Simply Wheelz announced that it was filing for protection under the federal bankruptcy statutes. On this news, the price of Hertz stock dropped further, falling $2.50 per share, or 10.50%. If you are a member of the class, you may, no later than January 19, 2014, request that the Court appoint you as lead plaintiff of the class. A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member's claim is typical of the claims of other class members, and that the class member will adequately represent the class. Under certain circumstances, one or more class members may together serve as "lead plaintiff." Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. You may retain Ryan & Maniskas, LLP or other counsel of your choice, to serve as your counsel in this action. For more information about the case or to participate online, please visit: www.rmclasslaw.com/cases/htz or contact Richard A. Maniskas, Esquire toll-free at (877) 316-3218, or by e-mail at rmaniskas@rmclasslaw.com. For more information about class action cases in general or to learn more about Ryan & Maniskas, LLP, please visit our website: www.rmclasslaw.com. Ryan & Maniskas, LLP is a national shareholder litigation firm. Ryan & Maniskas, LLP is devoted to protecting the interests of individual and institutional investors in shareholder actions in state and federal courts nationwide. RELATED LINKS http://www.rmclasslaw.com