Shares of Hertz Global Holdings Inc. (HTZ) were halted mid-trading Wednesday for news pending. The car-rental company, which entered bankruptcy protection May 22, filed earlier this week to sell up to $500 million in shares it warned could be "worthless" amid its bankruptcy proceedings. Shares of Hertz were down 0.5% before the halt, contrasting with small gains for the S&P 500 index . A trade resumption has not been set. Earlier Wednesday, Securities and Exchange Commission Chairman Jay Clayton told CNBC the regulator had issues with the plan to sell shares, and had let Hertz know it had "comments" on the company's disclosure. In most cases companies would then halt their efforts until the issues were resolved, Clayton said.
-Claudia Assis; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
June 17, 2020 12:42 ET (16:42 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.