The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: Smiling Bob who wrote (221724)	9/28/2009 1:28:09 PM
From: Smiling Bob	of 306849

Message 25961912 UPDATE: Hertz Sues Adviser That Raises Bankruptcy Risk 58 minutes ago - Dow Jones News Related Companies Symbol Last %Chg HTZ 11.00 2.90% As of 1:26 PM ET 9/28/09 (Adds statement from Audit Integrity, stock price) DOW JONES NEWSWIRES Hertz Global Holdings Inc. (HTZ) has sued a research firm that said in a recent report that the car-rental company was among companies with the highest probability of declaring bankruptcy in the next year. Audit Integrity included Hertz in its list of 20 companies with at least $1 billion of market capitalization that have the most bankruptcy risk. In a statement Monday, Chairman and Chief Executive Mark P. Frissora called the suit "an appropriate response to the publication of false and harmful information about Hertz. Not only are the conclusions about our financial health baseless, but questioning the integrity of our financial reporting is indefensible." Audit Integrity Chief Executive Jack Zwingli, also sued by Hertz, said in a statement "we are disappointed that Hertz has taken this action in an attempt to stifle an opinion they do not agree with. Audit Integrity provides valuable risk assessment services, which are particularly important in the current environment. We firmly stand behind our methodology and findings, and will vigorously defend ourselves against this unwarranted litigation." Hertz has been reporting weaker results amid falling car-rental demand, but unlike many competitors has remained profitable. Shares were recently up 3.4% at $11.05 amid a sharp market rally. The stock has more than doubled this year. -By Kevin Kingsbury, Dow Jones Newswires; 212-416-2354; kevin.kingsbury@dowjones.com

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