×
Newsmax TV & Webwww.newsmax.comFREE - In Google Play
VIEW
×
Newsmax TV & Webwww.newsmax.comFREE - On the App Store
VIEW
Tags: hertz wrongful theft claims | 168 million settlement

Hertz to Pay $168M for Wrongful Theft Claims

Hertz to Pay $168M for Wrongful Theft Claims
(AP)

Tuesday, 06 December 2022 04:48 PM EST

Hertz Global Holdings Inc. will pay about $168 million by year-end to resolve over 95% of pending claims from owners who alleged the car rental giant filed wrongful theft reports.

Some customers had sued Hertz alleging the police detained or arrested individuals in error after the company reported rental cars were stolen.

Hertz, which operates Hertz, Dollar and Thrifty vehicle rental brands, said it will recover a "meaningful" portion of the settlement amount from its insurers. The settlement resolves 364 pending claims from car owners.

Hertz said it does not expect the resolution of these claims to have a material impact on its capital return plans for this and next year.

The company in October reported a 12% jump in third-quarter revenue, amid strong demand for rental cars. Profit, however, rose just 1% on elevated maintenance costs.

© 2023 Thomson/Reuters. All rights reserved.


StreetTalk
Hertz Global Holdings Inc. will pay about $168 million by year-end to resolve over 95% of pending claims from owners who alleged the car rental giant filed wrongful theft reports.
hertz wrongful theft claims, 168 million settlement
137
2022-48-06
Tuesday, 06 December 2022 04:48 PM
Newsmax Media, Inc.

Sign up for Newsmax’s Daily Newsletter

Receive breaking news and original analysis - sent right to your inbox.

(Optional for Local News)
Privacy: We never share your email address.
Join the Newsmax Community
Read and Post Comments
Please review Community Guidelines before posting a comment.
 
Get Newsmax Text Alerts
TOP

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved
NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved