SOURCE: The Hertz Corporation

The Hertz Corporation

February 23, 2010 17:09 ET

Hertz Wins U.S. Supreme Court Ruling

PARK RIDGE, NJ--(Marketwire - February 23, 2010) - The Hertz Corporation (NYSE: HTZ), the world's largest car rental brand, was the recipient of a favorable U.S. Supreme Court ruling in Hertz vs. Friend, a lawsuit which questioned how a court determines a national corporation's principal place of business. Hertz argued successfully that a corporation's headquarters, its 'nerve center', should be considered its primary place of business. In a unanimous Opinion, the Supreme Court agreed with Hertz, adopting a sweeping nerve center test. The Opinion overturns a lower court ruling that held Hertz to a California class action lawsuit in state court as opposed to federal court.

"Hertz is gratified by the Supreme Court's decision," commented Mark P. Frissora, Chairman and Chief Executive Officer, The Hertz Corporation. "We applaud the unanimous Opinion and the common sense approach in determining where major litigation affecting multi-state businesses should be handled. The Opinion impacts every corporation doing business on a nationwide basis, allowing legal disputes between citizens of different states to be decided in a federal court, rather than state court."

The Chamber of Commerce, Business Roundtable, and American Trucking Association joined together in supporting Hertz's appeal, advocating that a corporation's headquarters is its principal place of business. According to the Court's Opinion, adoption of a nerve center test "promotes greater predictability . . . [which] is valuable to corporations making business and investment decisions."

Hertz is the largest worldwide airport general use car rental brand operating from approximately 8,100 locations in 146 countries worldwide. Hertz is the number one airport car rental brand in the U.S. and at 78 major airports in Europe, operating both corporate and licensee locations in cities and airports in North America, Europe, Latin America, Asia, Australia and New Zealand. In addition, the Company has licensee locations in cities and airports in Africa and the Middle East. Product and service initiatives such as Hertz #1 Club Gold®, NeverLost® customized, onboard navigation systems, SIRIUS XM Satellite Radio, and unique cars and SUVs offered through the Company's Prestige, Fun and Green Collections, set Hertz apart from the competition. The Company also operates the global car sharing club, Connect by Hertz, in New York City, Berlin, London, Madrid and Paris. Additionally, Hertz operates one of the world's largest equipment rental businesses, Hertz Equipment Rental Corporation, offering a diverse line of equipment, including tools and supplies, as well as new and used equipment for sale, to customers ranging from major industrial companies to local contractors and consumers from approximately 325 branches in the United States, Canada, China, France and Spain.