Deals
Macquarie Ordered to Face Fraud Claim Tied to Hertz Spinoff
- Bank loses bid to dismiss ousted executive's defamation claims
- Lawsuit stems from FTC-driven sale of Advantage Rent A Car
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Macquarie Group Ltd. will have to face the fraud and defamation claims of an executive who says the bank ousted him from running Advantage Rent A Car after they teamed up to buy the business from Hertz Global Holdings Inc.
Macquarie lost a bid to throw out the lawsuit brought by Sanford Miller, an industry veteran who says the company’s conduct cost him millions of dollars when Advantage collapsed into bankruptcy in 2013, according to a Nov. 17 decision by a New York state court judge.