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Hertz Tries A Clawback
Auto rental company Hertz is demanding the return of $70 million in incentive compensation to former CEO Mark Frissora and other senior executives. In 2014, Hertz disclosed that it would have to restate three years of accounting statements. Hertz is accusing former management of pressuring employees to use fraudulent and misleading accounting procedures that lead to the restatements. Hertz is also demanding that the executives return the severance pay received when they left the company after the accounting scandal was unearthed.
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