3rd Circuit Denies Investors’ Bid To Reopen Hertz Global Shareholder Action

Mealey's (October 14, 2020, 2:28 PM EDT) -- PHILADELPHIA — A Third Circuit U.S. Court of Appeals panel on Oct. 13 ruled that a federal district court correctly deemed a bid by shareholders to reopen a securities class action lawsuit against bankrupt car rental company Hertz Global Holdings Inc. and certain of its senior executives and file an amended complaint based on newly discovered evidence as untimely because the evidence the pension funds sought to add was in existence before the district court’s dismissal ruling (In re Hertz Global Holdings Inc. Securities Litigation, No. 19-3532, 3rd Cir., 2020 U.S. App. LEXIS 32238)....