Hertz reaches settlement in false arrest lawsuits

The Hertz Corp. has agreed to pay $168 million to settle lawsuits brought by hundreds of customers alleging the Lee County rental car giant reported vehicles stolen while the drivers were in good standing.

Hertz did not release details of the settlement in a statement issued Dec. 5 but said in a filing with the  Securities and Exchange Commission that it will make the payments during its fourth quarter of 2022. It also said the settlement is not “expected to have a material impact on the company’s capital allocation plans for the balance of 2022 or 2023” and that it would try to recoup a “meaningful portion” of the money from its insurance carriers.