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Bankrupt Hertz terminates controversial stock sale

Bankrupt Hertz terminates controversial stock sale

Hertz has decided to terminate its share sale of ~$500mn following the Securities & Exchange Commission criticizing the bankrupt company’s plan. This led to shares of Hertz falling ~10%. Hertz is now looking into for a bankruptcy loan of up to $1bn to fund its business reorganization. This action would settle the heightened debate about whether bankrupt companies should be allowed to sell shares

Milan
Milan
Top in Business