Hertz wins dismissal of lawsuit in Delaware over warrants
07/02/2025 20:33
Feb 7 (Reuters) - Hertz Global Holdings HTZ.O on
Friday won the dismissal of a lawsuit claiming that the rental
car company was required to redeem shareholders' common stock
warrants after undergoing a series of financing transactions.
Judge Eric Davis of the Delaware Chancery Court said Hertz's
decisions to repurchase $3.4 billion of stock and take on $2.2
billion of debt between November 2021 and December 2023 did not
qualify as a "reorganization event" sufficient to allow
investors to redeem their warrants.
(Reporting by Jonathan Stempel in New York)
((jon.stempel@thomsonreuters.com; +1 646 223 6317; Reuters
Messaging: jon.stempel.thomsonreuters.com@reuters.net))