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Stock exchange may boot Hertz


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  • | 12:02 p.m. March 25, 2015
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NAPLES — Hertz' failure to file its annual report could get its stock removed from trading on the New York Stock Exchange.

Hertz is temporarily headquartered in Naples while it builds a new corporate headquarters in nearby Estero. Accounting and operational issues have bedeviled the company since it moved its headquarters to Southwest Florida from New Jersey in 2013.

The New York Stock Exchange warned Hertz that the company's failure to file its annual report this year with the U.S. Securities and Exchange Commission could lead to its delisting. The car rental giant has until Sept. 17 to comply with filing the report, also known as a Form 10-K.

“As previously disclosed, the company was unable to timely file its 2014 Form 10-K with the Securities and Exchange Commission because of the ongoing nature of the company's previously announced thorough review and investigation of its internal financial records for fiscal years 2011, 2012 and 2013,” Hertz says in a statement.

“The company believes that it will continue to be listed on the NYSE, but there can be no assurance that the company will be able to file the SEC filings within the initial cure period or any extended cure period,” the Hertz statement says. “In addition, the NYSE maintains the ability to commence delisting procedures at any time during the cure period, but as of today we do not believe the NYSE will do so.”

 

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