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Hertz involved in short-swing trading case brought against its controlling shareholders

January 2024

Client(s) Hertz Global Holdings, Inc.

Jones Day is representing Hertz in a short-swing trading case brought under Section 16(b), in which a shareholder is seeking disgorgement of alleged trading profits received by Hertz's controlling shareholders. The shareholder seeks to impute the company's share buyback program to the controlling shareholders, and treat the buybacks as purchases of shares by the controlling shareholders under Section 16(b).

Roth v. CK Amarillo LP, et al., No. 24-706 (S.D.N.Y.)

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