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))
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.