Deutsche Bank will no longer be an underwriter in Hertz Global Holdings Inc.'s $1.5 billion initial public offering, scheduled to go live next week. The bank's withdrawal was prompted by a bank employee's unauthorized distribution of e-mails that could put Hertz at risk of shareholder suits. Hertz said in its filing it was not aware of the e-mails until after they were sent, but added that a court could find that it was nevertheless in violation of federal securities laws.
November 10, 2006 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
Deutsche Bank will no longer be an underwriter in Hertz Global Holdings Inc.’s $1.5 billion initial public offering, scheduled to go live the week of Nov. 13.
The bank’s withdrawal was prompted by a bank employee’s unauthorized distribution of e-mails that could put the Park Ridge, N.J., auto and equipment rental company at risk of shareholder suits.
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