Wolf Haldenstein Investigating Dollar Thrifty Automotive Group Board
NEW YORK--Attorney Advertising. The law firm of Wolf Haldenstein Adler Freeman & Herz LLP is investigating possible breaches of fiduciary duty by the Board of Directors of Dollar Thrifty Automotive Group (“Dollar Thrifty�?? or the “Company�??) arising out of the proposed acquisition of Dollar Thrifty by Hertz Global Holdings, Inc. (“Hertz�??).
On Monday, April 26, 2010, Hertz and Dollar Thrifty announced that Hertz will acquire Dollar Thrifty pursuant to a cash and stock offer totaling $41 per share of common stock. Under the terms of the agreement, the $41 per share price is composed of 80% cash and 20% stock. The cash component will be paid in two parts: a) there will be a $200 million special cash dividend representing approximately $6.88 per share, to be paid by Dollar Thrifty immediately prior to the transaction closing; b) at the closing, Hertz will pay $25.92 per share. The stock component will equal 0.6366 shares of Hertz common stock per share of Dollar Thrift common stock. However, the Company may not have adequately shopped itself before entering into this transaction and, pursuant to this proposed transaction, Hertz may be underpaying for Dollar Thrifty, thus unlawfully harming Dollar Thrifty shareholders.
Wolf Haldenstein has been representing individual and institutional investors for many years, serving as lead counsel in numerous cases in U.S. federal and state courts. Please visit the Wolf Haldenstein website (http://www.whafh.com) for more information about the firm.
If you own Dollar Thrifty common stock and you wish to discuss this matter with us, or have any questions concerning your rights and interests with regard to this matter, please contact:
| Gustavo Bruckner or Derek Behnke |
| Wolf Haldenstein Adler Freeman & Herz LLP |
| 270 Madison Avenue |
| New York, New York 10016 |
| Phone Numbers: (800) 575-0735 |
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                         (212) 545-4600 |
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Email: bruckner@whafh.com |
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Classmember@whafh.com |
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Website: http://www.whafh.com |
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