INSIDER
Hertz will pay $168 million to settle hundreds of false car theft claims
Read full article: Hertz will pay $168 million to settle hundreds of false car theft claimsRental car giant Hertz Global Holdings announced Monday it would pay $168 million to settle 364 claims that it erroneously filed criminal reports against customers who did not return vehicles on time.
Hertz CEO acknowledges โPolice Reportโ issue
Read full article: Hertz CEO acknowledges โPolice Reportโ issueThis week, Hertz new CEO, Stephen Scherr, said his company was fixing a problem that caused innocent Hertz customers to be arrested for stealing rental cars they did not, in fact, steal.
U.S. Senators urge federal investigation on Hertz rental car company after customers wrongfully accused of driving stolen rental cars
Read full article: U.S. Senators urge federal investigation on Hertz rental car company after customers wrongfully accused of driving stolen rental carsFederal lawmakers are urging the federal government to investigate Hertzโs business practices after customers were wrongfully accused of driving rental cars that were reported as stolen.
Hertz files thousands of auto theft reports against customers annually
Read full article: Hertz files thousands of auto theft reports against customers annuallyHundreds of former customers across the country claim they were unfairly targeted, accused, and sometimes arrested at gunpoint after Hertz falsely claimed they had stolen rental cars.
Hertz rental car company ordered by federal judge to disclose number of customers accused of driving stolen vehicles
Read full article: Hertz rental car company ordered by federal judge to disclose number of customers accused of driving stolen vehiclesKPRC 2 Investigates has been tracking developments connected to Hertz. The rental car company is battling hundreds of customers who say they were falsely accused of auto theft after renting cars.
Harris County Attorney exploring options on Hertz rental car arrests
Read full article: Harris County Attorney exploring options on Hertz rental car arrestsA follow up to a KPRC2 Investigation. Customers renting cars for work or family trips, then getting pulled over-- at gunpoint-- accused of driving a stolen car. Our Investigates team exposed this problem in the Houston area and now we're seeing action.
KPRC 2 Investigates: Hertz customers report being accused of driving stolen rental cars
Read full article: KPRC 2 Investigates: Hertz customers report being accused of driving stolen rental carsHouston Hertz customers say they were detained by police, and in some cases jailed, after being accused of driving a stolen rental car. The rental car company is now facing a lawsuit involving dozens of customers across the country.
Avis' stock soars on earnings blowout, burning short sellers
Read full article: Avis' stock soars on earnings blowout, burning short sellersShares of Avis doubled after the rental car companyโs third-quarter results showed it is well on the road to recovery from damage inflicted by the pandemic on the global travel industry.
Tesla falls on Musk tweet saying Hertz deal not signed yet
Read full article: Tesla falls on Musk tweet saying Hertz deal not signed yetShares of Tesla Inc. tumbled almost 4% in midday trading on Tuesday after its CEO and founder Elon Musk tweeted that a contract to sell 100,000 cars to Hertz had not been signed, suggesting the deal had not been finalized.
Hertz eyes bankruptcy exit through $4.2 billion stake sale
Read full article: Hertz eyes bankruptcy exit through $4.2 billion stake saleFILE - In this May 6, 2020, file photo, a Hertz car rental is closed during the coronavirus pandemic in Paramus, N.J. Two investment firms are looking to take at least a controlling stake in rental car company Hertz for up to $4.2 billion and help it emerge from bankruptcy protection. (AP Photo/Ted Shaffrey, File)(AP) โ In a deal to jettison itself from under bankruptcy protection, Hertz said Tuesday that it may sell a controlling stake in the company to two investment firms for $4.2 billion. Knighthead Capital Management and Certares Opportunities will have the chance to buy the entire reorganized car rental company, but no less than a majority of its shares, Hertz Global Holdings Inc. said. Hertz filed for bankruptcy protection in May 2020. When it entered bankruptcy protection, Hertz named its fourth chief executive in six years.
Hertz selling 182K trucks and SUVS under market value after filing for bankruptcy due to coronavirus pandemic
Read full article: Hertz selling 182K trucks and SUVS under market value after filing for bankruptcy due to coronavirus pandemicHOUSTON โ The coronavirus pandemic has taken a toll on car rental companies, including one that plans to sell a fleet of cars to try and stay afloat amid the economic slowdown. Car rental company Hertz has begun selling its fleet of cars more than 10% below market value after filing for bankruptcy. According to CNN Business, the company filed for Chapter 11 bankruptcy due to the sharp decline in air travel caused by the coronavirus pandemic. Several cars, such as the 2018 Nissan Sentra, are being sold for $10,395, almost 12% below market value. Those interested in purchasing from Hertz can shop online and have the vehicle delivered within a 75-mile radius.