Hertz Faces Shareholder Class Action Over Fleet Depreciation Claims

The litigation, filed in the U.S. District Court for the Middle District of Florida, alleges that Hertz misled shareholders regarding the stability of its "Back-to-Basics" fleet strategy. Central to the complaint is the company's Net Depreciation per Unit (DPU), a metric Hertz touted as approaching a $300 target through disciplined rotation. Plaintiffs contend that management failed to disclose the extent to which a weakening used-car market was eroding residual values and threatening the company’s EBITDA outlook.

The volatility culminated on June 24, 2026, when shares plummeted to $3.00. That same day, the company announced a $300 million debt issuance and a dilutive share-lending offering, moves the lawsuit characterizes as a correction of prior representations concerning fleet health. Joseph E. Levi, lead attorney at Levi & Korsinsky, LLP, argues that depreciation and residual values are foundational to the company's investment case and that investors were left with an inaccurate assessment of the firm's financial security.