Hertz wins dismissal of lawsuit in Delaware over warrants

Reuters

02-08

Hertz wins dismissal of lawsuit in Delaware over warrants

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))

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