NEW YORK, Aug. 8, 2017 /PRNewswire/ -- Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Herc Holdings Inc. ("Herc" or the "Company") (NYSE: HRI). Such investors are encouraged to obtain additional information and assist the investigation by visiting the firm's site: www.bgandg.com/hri.
The investigation concerns whether Herc and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
On March 15, 2017, Herc filed its 2016 annual report and advised investors that it had identified material weakness in its internal control over financial reporting. Herc specifically noted, among other issues, ineffective design and maintenance of controls over accounting for payroll, income tax accounts, and relating to certain IT systems, as well as certain material weaknesses inherited from Hertz Holdings. On August 8, 2017, Herc filed its quarterly report for the second quarter of 2017 and advised shareholders that the previously reported material weaknesses "were not remediated at June 30, 2017," that it had "established a task force and assigned a working group to each of the material weaknesses," and that "[t]wo key accounting positions, Controller and Chief Accounting Officer and Assistant Controller, have been filled or replaced by the Company and four additional accounting supervisors have been hired during the six months ended June 30, 2017." Following this news, Herc stock has dropped s as much as $3.73 per share, or 8.2%, during intraday trading on August 8, 2017.
If you are aware of any facts relating to this investigation, or purchased shares of Herc, you can assist this investigation by visiting the firm's site: www.bgandg.com/hri. You can also contact Peretz Bronstein or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
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