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Hertz halts plan to sell $500 million in shares after SEC review

The desk of car rental company Hertz is seen at Nice International airport during the coronavirus disease (COVID-19) outbreak in Nice, France, May 27, 2020.

Eric Gaillard | Reuters

Hertz has suspended its plan to sell up to $500 million in shares pending review by the Securities and Exchange Commission.

Shares of the bankrupt car rental firm jumped more than 5% Wednesday afternoon to $2.06. Shares had been halted at 11:44 a.m. pending news around the bankrupt company’s controversial stock sale plan.

Hertz in a regulatory filing Wednesday said the SEC said it 

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