Hertz $10 Million Securities Settlement, Who Qualifies, How Much Investors Could Get and the January 8, 2027 Claim Deadline

File your claim: the only official site is www.HertzSecuritiesSettlement.com. Filing is free, and you should never pay anyone to file.

Hertz Global Holdings has agreed to pay $10 million to settle a securities class action alleging that Hertz and two former executives misled investors about demand for, and forecasts of, its electric vehicle (EV) rental business. The settlement covers investors who purchased or otherwise acquired Hertz common stock (ticker HTZ) between January 6, 2023 and April 24, 2024, inclusive, and allegedly lost money as a result.

The federal court granted preliminary approval on October 2, 2026, and the claims process is open. To get paid, you must submit a valid Proof of Claim and Release Form by January 8, 2027. The same date is the deadline to request exclusion or to object. The final approval hearing is January 29, 2027, at 10:00 a.m. Eastern.

The notice estimates an average recovery of about $0.07 per allegedly damaged share before deductions and about $0.04 after estimated fees and expenses. That is an average, not a payment you should expect. Your payment depends on when you bought and sold, the prices, and how many valid claims are filed. Hertz and the individual defendants deny wrongdoing, and no court has found them liable.

The case is Doller v. Hertz Global Holdings, Inc., et al., No. 2:24-cv-00513-KCD-KRH, U.S. District Court for the Middle District of Florida, Fort Myers Division.

Quick Facts: Hertz $10 Million Securities Settlement

Detail	Information
Case	Doller v. Hertz Global Holdings, Inc., et al., No. 2:24-cv-00513-KCD-KRH
Court	U.S. District Court, Middle District of Florida (Fort Myers)
Defendants	Hertz Global Holdings, Inc.; Stephen M. Scherr (former CEO); Alexandra Brooks (former CFO)
Lead plaintiff	Robert Stephens (original named plaintiff: Edward M. Doller)
Lead counsel	Levi & Korsinsky, LLP
Settlement fund	$10,000,000 plus accrued interest
Eligible security	Hertz common stock, ticker HTZ, CUSIP 42806J700
Settlement class period	January 6, 2023 to April 24, 2024, inclusive
Average recovery (notice estimate)	About $0.07 per damaged share before deductions; about $0.04 after
Estimated damaged shares	About 148.4 million
Minimum payment	$10
Preliminary approval	October 2, 2026
Claim, exclusion and objection deadline	January 8, 2027
Final approval hearing	January 29, 2027, 10:00 a.m. Eastern, Fort Myers
Claims administrator phone and email	(888) 292-4295; [email protected]
Status	Preliminarily approved; final approval pending

What Is the Hertz Securities Class Action About?

The lawsuit alleges that Hertz and former executives made misleading statements about EV rental demand. Hertz had invested heavily in EVs, including a large Tesla purchase, and promoted the strategy to investors. Plaintiffs allege that actual demand was weaker than management described, that the statements inflated Hertz’s stock price, and that the price fell when later disclosures revealed the problem. The claims are under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and SEC Rule 10b-5.

Background from the court record, which describes allegations and is not a finding of fraud, includes Hertz’s 2021 EV announcements, later EV sales, a reported $245 million write-down tied to Tesla vehicles and another reported $195 million write-down tied to vehicles being sold, and an alleged stock decline of about $5.49 per share, or 54%.

What did Hertz executives allegedly tell investors?

The complaint focuses on 2023 statements by Scherr. In January 2023 he described EV rental demand as “very strong and strong across all aspects of our business.” In an April 2023 earnings call he said Hertz was forecasting nearly 2 million EV rentals in 2023, about five times the prior year. Plaintiffs allege internal data showed much weaker utilization.

What did the judge decide about those statements?

On October 10, 2025, Judge Kyle C. Dudek granted in part and denied in part the motion to dismiss. The court dismissed several challenged statements as vague optimism or inadequately alleged to be false. Two survived: the January 2023 demand statement and the forward-looking portion of the April 2023 rental forecast. The opinion discussed confidential-witness allegations about EV utilization well below what management described. That was a ruling on the pleadings, not a trial verdict, and it did not establish liability.

Why Did Hertz Agree to Pay $10 Million?

Date	Event
May 31, 2024	Lawsuit filed
August 14, 2024	Court appoints Robert Stephens lead plaintiff and Levi & Korsinsky lead counsel
September 30, 2024	Amended complaint filed, setting the class period of January 6, 2023 to April 24, 2024
October 10, 2025	Motion to dismiss granted in part and denied in part
March 2026	Mediation produces an agreement
May 15, 2026	Stipulation of Settlement signed
June 22, 2026	Court certifies the settlement class
October 2, 2026	Court grants preliminary approval and authorizes notice

According to the settlement documents, plaintiffs served 39 document requests, subpoenaed 33 third parties and received more than 164,600 pages of documents. The notice explains that the parties disagreed on whether the statements were false, whether defendants acted with scienter, whether the disclosures were corrective, what caused the losses and what damages were recoverable. The settlement is not an admission of liability.

Who Qualifies for the Hertz Securities Settlement?

You are a class member if you purchased or otherwise acquired Hertz common stock between January 6, 2023 and April 24, 2024 and were allegedly injured. You do not need to own the stock today.

Important limits from the notice:

• Owning a mutual fund that holds Hertz stock does not by itself make you a class member.
• Selling Hertz stock during the class period does not by itself make you a class member. You must have directly purchased or acquired shares.
• The claim process covers common stock, not unrelated bonds, preferred securities or warrants.

Excluded: the defendants; their immediate family members; their subsidiaries and affiliates; Hertz officers, directors and controlling persons; entities the defendants control; the defendants’ directors-and-officers insurers and their affiliates; legal representatives, heirs, successors and assigns of those parties; and anyone who timely and properly opts out.

How Much Could Investors Receive From the Hertz Settlement?

The fund is $10 million plus interest, but investors will not receive all of it. The court first considers deductions:

• Attorneys’ fees of up to one-third of the fund ($3,333,333) plus interest, as requested by Lead Counsel;
• Reimbursement of litigation expenses of up to $300,000;
• A compensatory award to the plaintiff of up to $7,500;
• Notice and administration costs, and taxes on fund interest.

Those are requests, and the court may award less. Together they are estimated at about $0.02 per damaged share, which is how the notice gets from about $0.07 to about $0.04. What remains, the Net Settlement Fund, is divided among approved claimants in proportion to their Recognized Loss. No distribution will be made if a claimant’s payment would be under $10.

Two investors who bought the same number of shares can receive different amounts if they bought or sold on different dates or at different prices. The notice itself says it is unlikely any claimant will recover their full Recognized Loss.

Related article: $5 Million Jeep Wrangler 4xe Settlement, Who Qualifies for Up to $750 and When Can You File a Claim?

How Is Your Hertz Settlement Payment Calculated?

The Claims Administrator calculates each claimant’s Recognized Loss under the Plan of Allocation, and you do not need to do the math. The plan assumes the stock price was inflated during the class period and that three disclosures removed that inflation: October 26, 2023, January 11, 2024 and April 25, 2024.

Purchase date range	Estimated inflation per share
January 6 to October 25, 2023	$2.43
October 26, 2023	$1.63
October 27, 2023 to January 10, 2024	$1.36
January 11, 2024	$1.04
January 12 to April 24, 2024	$1.01
April 25, 2024 and after	$0.00

These are inputs to the formula, not per-share payments. Recognized Loss per share is figured as follows:

Your situation	Recognized Loss per share
Bought in the class period and sold before October 26, 2023	$0.00
Sold between October 26, 2023 and April 24, 2024	The lesser of (a) inflation at purchase minus inflation at sale, or (b) purchase price minus sale price
Sold between April 25 and July 23, 2024	The lesser of (a) inflation at purchase, (b) purchase price minus sale price, or (c) purchase price minus the 90-day lookback value for the sale date
Still held at the close of July 23, 2024	The lesser of (a) inflation at purchase, or (b) purchase price minus $4.25, the 90-day lookback average

Other plan rules:

• Transactions are matched first-in, first-out (FIFO), and sales are matched first against shares held before the class period.
• Shares bought before January 6, 2023, including those received by gift or inheritance that were originally bought earlier, have a Recognized Loss of zero.
• Short sales have a Recognized Loss of zero.
• If your overall transactions in the class period produced a market gain, your Recognized Claim is zero. If you had a market loss smaller than your Recognized Claim, your claim is limited to the market loss. Shares still held on April 25, 2024 are given a holding value of $4.68 for that test.
• Option exercises are treated as purchases or sales on the exercise date at the exercise price.

Why does the claim form ask about trades through July 23, 2024?

The class period ends April 24, 2024, but the plan uses the 90-day lookback in the Private Securities Litigation Reform Act, so the administrator needs information through July 23, 2024. Only purchases within the class period can qualify. The additional dates do not extend the class period.

How to File a Hertz Securities Settlement Claim

Official site: www.HertzSecuritiesSettlement.com | Submit online: hertzsecuritiessettlement.com/submit-claim

1. Confirm you are eligible. Check that you directly purchased or acquired HTZ common stock between January 6, 2023 and April 24, 2024 and are not excluded.
2. Gather records. You will need your holdings at the opening of January 6, 2023, every purchase and sale between January 6, 2023 and July 23, 2024, your holdings at the close of July 23, 2024, and supporting brokerage statements or trade confirmations.
3. Complete the Proof of Claim and Release Form. It also asks for taxpayer identification information. Estates, trusts and people filing for someone else must show legal authority.
4. Submit by January 8, 2027. File online by 11:59 p.m. Eastern, or mail the signed form so it is postmarked by that date to: Hertz Global Holdings, Inc. Securities Litigation, c/o Claims Administrator, 1650 Arch Street, Suite 2210, Philadelphia, PA 19103.
5. Keep copies. The administrator may request more documentation, and submitting a form does not guarantee approval.

Banks, brokers and institutional filers have a separate process at hertzsecuritiessettlement.com/banks-brokers-institutions. Nominees must, within ten days of receiving the notice, give the administrator the names and addresses of beneficial owners or send the notice to them.

What Are Your Options and Deadlines?

Option	Deadline	What it means
Submit a claim	January 8, 2027	The only way to get paid
Request exclusion (opt out)	Postmarked by January 8, 2027	No payment; keeps your right to sue separately
Object	Filed with the court and received by counsel by January 8, 2027	Tell the court what you dislike; you stay in the class and can still claim
Final approval hearing	January 29, 2027, 10:00 a.m. Eastern	Court decides on approval, the plan, fees and the plaintiff award

How to opt out

Mail a signed letter, under penalty of perjury, stating that you request exclusion from the settlement class in Doller v. Hertz Global Holdings, Inc., No. 2:24-cv-00513-KCD-KRH, with your contact information, all class-period purchases and sales with dates, shares and amounts, your holdings as of April 24, 2024, and documentary proof. Send it to Hertz Global Holdings, Inc. Securities Litigation, Attn: Exclusions, P.O. Box 58220, Philadelphia, PA 19102, postmarked by January 8, 2027. You cannot opt out by phone or email. The notice says you can revoke an exclusion in writing until January 27, 2027 and still receive a payment if you also file a valid, timely claim.

How to object

Send a signed letter that includes your name, address, phone and signature; your class-period transactions with documentation; all grounds for the objection; the names of any counsel; and a list of your class action objections in the past five years. Deliver it to the Clerk of the Court (Middle District of Florida, 2110 First Street, Courtroom 6B, Fort Myers, FL 33901), Lead Counsel (Levi & Korsinsky) and defendants’ counsel (Davis Polk & Wardwell) so it is received by January 8, 2027. To speak at the hearing, state that you “intend to appear.” You can object only if you stay in the class.

What happens if you do nothing?

You get no payment, and if the court approves the settlement you will be bound by it and give up the right to bring your own lawsuit over the released claims, unless you exclude yourself.

When Will Hertz Settlement Payments Be Sent?

No payment date has been announced. The court must hold the January 29, 2027 hearing at the U.S. Courthouse and Federal Building in Fort Myers (courtroom to be announced), and the date can change without further notice, so check the settlement website or the docket. Even after approval, any appeals and claims processing can take time, and the notice says it could be more than a year. If money remains after distribution, it is used for omitted payments and administration costs, then a second distribution if economical, and then cy pres to a charity approved by the court.

What Laws and Rules Govern the Hertz Securities Settlement?

Authority	Why it matters here
15 U.S.C. § 78j(b); 17 C.F.R. § 240.10b-5	Prohibit material misstatements and omissions in connection with buying or selling securities. The core claim.
15 U.S.C. § 78t(a)	Control-person liability for the executives.
15 U.S.C. § 78u-4(b)(1)-(2)	PSLRA pleading rules: misstatements pleaded with particularity and facts giving a strong inference of scienter. Why several statements were dismissed.
15 U.S.C. § 78u-5(c)	The forward-looking statement safe harbor, relevant to the April 2023 forecast. Protection can be lost if the speaker had actual knowledge the statement was false.
15 U.S.C. § 78u-4(e)	The 90-day lookback that caps damages and drives the July 23, 2024 data request.
15 U.S.C. § 78u-4(a)(6)	Limits total attorneys’ fees and expenses to a reasonable percentage of the amount actually paid to the class.
15 U.S.C. § 78u-4(a)(7)	Requires settlement notices to state the total settlement, average per-share recovery, the parties’ damages disagreement, fee requests and counsel identity. Why the notice has those items.
Fed. R. Civ. P. 23(c)(2)(B), 23(e), 23(h)	Notice, opt-out rights, court approval after a fairness finding, and court review of fees.
28 U.S.C. § 1715	Requires notice to federal and state officials of a class settlement, and delays final approval at least 90 days.
Basic Inc. v. Levinson, 485 U.S. 224 (1988); Dura Pharmaceuticals, Inc. v. Broudo, 544 U.S. 336 (2005)	Fraud-on-the-market reliance, and the need to show loss caused by corrective disclosures. The reason the plan pays only for losses tied to the three disclosure dates.
Bennett v. Behring Corp., 737 F.2d 982 (11th Cir. 1984)	Eleventh Circuit factors for judging whether a class settlement is fair, reasonable and adequate.
Camden I Condominium Ass’n v. Dunkle, 946 F.2d 768 (11th Cir. 1991)	Eleventh Circuit fees are generally set as a percentage of the fund, with 25% a benchmark that can be adjusted. The one-third request is above that benchmark, so the court will weigh it.

The court has not yet decided any of the approval or fee questions.

Is This the Same as the Other Hertz Stockholder Settlement?

No. Cascia v. Farmer is a separate Delaware stockholder matter about voting arrangements and share repurchases, and it does not provide this cash distribution. See Hertz HTZ Stockholder Settlement 2026: Cascia V. Farmer Explained. For another securities settlement with a claim process, see Marqeta $13 Million Securities Settlement, Claim By December 31, 2026.

Beware of Settlement Scams

Filing a claim is free. Use only the official website and claims administrator listed above. Be cautious of unsolicited calls, emails or sites that promise higher payouts for a fee or ask for account passwords.

Frequently Asked Questions About the Hertz Securities Settlement

Is the Hertz $10 million securities settlement real?

Yes. It is a court-supervised settlement in Doller v. Hertz Global Holdings, Inc., and the court granted preliminary approval on October 2, 2026.

Who qualifies?

People and entities that purchased or otherwise acquired Hertz common stock between January 6, 2023 and April 24, 2024 and allegedly lost money, other than the excluded parties.

How much will I get?

The notice estimates an average of about $0.07 per damaged share before deductions and about $0.04 after. Your payment depends on your Recognized Loss and the number of valid claims.

Is there a minimum payment?

Yes. No distribution is made if it would be under $10.

What is the claim deadline?

January 8, 2027. File online by 11:59 p.m. Eastern or mail it postmarked by that date.

Do I need to own Hertz stock now?

No. What matters is that you purchased or acquired it during the class period.

Do I qualify if I only sold shares during the class period?

No. You must have directly purchased or acquired shares during the period.

Do I qualify through a mutual fund?

No. A fund’s ownership of Hertz stock alone does not make you a class member.

Do I qualify if I sold before October 26, 2023?

You may be a class member, but shares bought in the class period and sold before October 26, 2023 have a Recognized Loss of zero.

Why does the form ask for trades through July 23, 2024?

The 90-day lookback calculation needs those transactions. It does not extend the class period.

Does the settlement cover bondholders or preferred shareholders?

No. It covers Hertz common stock.

When is the final approval hearing?

January 29, 2027, at 10:00 a.m. Eastern in Fort Myers, Florida. Check the website because the date can change.

When will I be paid?

No date is set. Payment follows final approval, claims processing and any appeals.

Did Hertz admit wrongdoing?

No. Hertz and the individual defendants deny the allegations, and the settlement is not a finding of securities fraud.

What if I do nothing?

You receive nothing and, if the settlement is approved, you give up the right to sue over the released claims.

The Bottom Line on the Hertz $10 Million Securities Settlement

Hertz’s $10 million settlement offers qualifying investors a chance to recover part of their alleged losses from the company’s statements about EV rental demand. The estimated average is about $0.04 per damaged share after deductions, but a purchase during the class period does not guarantee payment, because some trading patterns produce a Recognized Loss of zero. Gather your brokerage records now, including transactions through July 23, 2024, and file through the official site before January 8, 2027. That date is also the deadline to opt out or object. The final approval hearing is January 29, 2027.

Official Settlement Documents and Legal Authorities

Settlement website and documents

1. Official Hertz Securities Settlement website
2. Submit a claim online
3. Official Proof of Claim and Release Form
4. Court-approved long-form notice, dated October 2, 2026
5. Settlement Agreement (Stipulation dated May 15, 2026)
6. Banks, brokers and institutional filers

Court records

7. Doller v. Hertz Global Holdings, Inc., et al., No. 2:24-cv-00513-KCD-KRH (M.D. Fla.)
8. October 10, 2025 Order on Motion to Dismiss
9. June 22, 2026 Order Certifying the Class

Statutes, rules and cases

10. Securities Exchange Act of 1934, 15 U.S.C. §§ 78j(b), 78t(a), 78u-4, 78u-5
11. SEC Rule 10b-5, 17 C.F.R. § 240.10b-5
12. Federal Rule of Civil Procedure 23
13. 28 U.S.C. § 1715
14. Basic Inc. v. Levinson, 485 U.S. 224 (1988)
15. Dura Pharmaceuticals, Inc. v. Broudo, 544 U.S. 336 (2005)
16. Bennett v. Behring Corp., 737 F.2d 982 (11th Cir. 1984)
17. Camden I Condominium Ass’n v. Dunkle, 946 F.2d 768 (11th Cir. 1991)

Researched and written by Israr Ahmad, legal content researcher and founder of AllAboutLawyer.com. All facts verified against the court-approved long-form notice, the settlement website and the court’s orders, as of November 5, 2026. Last Updated: November 5, 2026.

This article is for informational purposes only and does not constitute legal or investment advice. Laws vary by state and individual circumstances differ. For advice about your specific situation, consult a qualified attorney. AllAboutLawyer.com is an independent legal information website, not a law firm. The settlement remains subject to final court approval. The defendants deny the allegations, and no finding of securities-law liability has been made. Eligibility and payment depend on the court-approved settlement terms and the administrator’s review.