Hertz said it would pay about $168 million to settle hundreds of pending claims related to vehicle-theft reporting, some instances of which have allegedly led customers to face wrongful arrest for stealing cars
Hertz Global Holdings Inc.
said it would pay about $168 million to settle 364 pending claims related to vehicle-theft reporting, some instances of which have allegedly ledThe hundreds of settlements resolve more than 95% of outstanding claims, Hertz said. The company said it doesn’t expect the settlement to have a material impact on its capital allocation plans for the balance of 2022 and 2023. The company also expects to recover a meaningful portion of the settlement amount from its insurance carriers.
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