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Stock impact report

Supreme Court denies Hertz's petition for review. Here's what it means. [USA TODAY]

Hertz Global Holdings, Inc (HTZ) 
Last hertz global holdings, inc earnings: 2/24 04:05 pm Check Earnings Report
US:NYSE Investor Relations: ir.hertz.com
Company Research Source: USA TODAY
The Supreme Court has declined to hear Hertz's challenge of a lower court decision that put it on the hook for more than $270 million in interest payments to its former bondholders. On Jan. 12, a three-judge panel of the high court denied a petition to review the case (with one judge in favor of granting the request). A representative for Hertz could not immediately be reached for comment about the Supreme Court's decision. The legal dispute arose in 2021 after the Estero-based car rental giant emerged from Chapter 11 bankruptcy as a much stronger company with a new lease on life. The bondholders, who weren't allowed to vote on Hertz's reorganization plan, swiftly filed a complaint after the finalization of the company's bankruptcy case, claiming they were underpaid. They argued they had to be "made whole," receiving their expected interest in full, at the expected rate. Hertz's early payoff led to millions in lost interest down the road. The publicly traded company argue Show less Read more
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