Hertz Agrees To Pay $168 Million To Settle Allegations

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Part of Hertz Global Holdings Inc. said Monday that it would pay $168 million to settle hundreds of claims

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For reporting the car stolen, which in some cases leads to the false arrest of customers

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The car rental company said the settlement "resolved" more than 95% of its ongoing theft reports.

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Hertz expects to recover a "significant portion" of the insurance settlement, it said

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Hertz shares fell nearly 3% on Monday, underperforming the broader stock market

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As I've said since joining Hertz earlier this year, my goal is to run a company that puts the customer first.

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We are committed to that goal in resolving these claims,” CEO Stephen Scherr said in a statement.

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Scherr, a former Goldman Sachs executive, became Hertz's CEO in February

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The firm emerged from bankruptcy and then returned to the capital markets last year

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Hertz shares have lost nearly 35% so far this year, compared with a nearly 16% loss for the S&P 500.

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Hertz Agrees To Pay $168 Million To Settle Allegations

Part of Hertz Global Holdings Inc. said Monday that it would pay $168 million to settle hundreds of claims

ALL IMAGES CREDIT: GOOGLE

For reporting the car stolen, which in some cases leads to the false arrest of customers

The car rental company said the settlement "resolved" more than 95% of its ongoing theft reports.

Hertz expects to recover a "significant portion" of the insurance settlement, it said

Hertz shares fell nearly 3% on Monday, underperforming the broader stock market

As I've said since joining Hertz earlier this year, my goal is to run a company that puts the customer first.

We are committed to that goal in resolving these claims,” CEO Stephen Scherr said in a statement.

Scherr, a former Goldman Sachs executive, became Hertz's CEO in February

The firm emerged from bankruptcy and then returned to the capital markets last year

Hertz shares have lost nearly 35% so far this year, compared with a nearly 16% loss for the S&P 500.

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Hertz Agrees To Pay $168 Million To Settle Allegations

Part of Hertz Global Holdings Inc. said Monday that it would pay $168 million to settle hundreds of claims

ALL IMAGES CREDIT: GOOGLE

For reporting the car stolen, which in some cases leads to the false arrest of customers

The car rental company said the settlement "resolved" more than 95% of its ongoing theft reports.

Hertz expects to recover a "significant portion" of the insurance settlement, it said

Hertz shares fell nearly 3% on Monday, underperforming the broader stock market

As I've said since joining Hertz earlier this year, my goal is to run a company that puts the customer first.

We are committed to that goal in resolving these claims,” CEO Stephen Scherr said in a statement.

Scherr, a former Goldman Sachs executive, became Hertz's CEO in February

The firm emerged from bankruptcy and then returned to the capital markets last year

Hertz shares have lost nearly 35% so far this year, compared with a nearly 16% loss for the S&amp;P 500.

More Stories

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Hertz shares have lost nearly 35% so far this year, compared with a nearly 16% loss for the S&P 500.