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Hertz says customers' personal data and driver's licenses stolen in data breach

1. Hertz reports data breach due to vendor cyberattack affecting personal customer data. 2. Sensitive data includes names, licenses, Social Security numbers, and payment info. 3. The breach potentially affects thousands, notably confirmed in California and Maine. 4. Cleo Software, a vendor, was exploited by the Clop ransomware gang. 5. Hertz claims no evidence of their systems being directly compromised.

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FAQ

Why Bearish?

Data breaches typically harm customer trust and brand reputation, impacting long-term sales. Similar past incidents (e.g., Equifax) led to stock price declines and lawsuits.

How important is it?

Consumer trust is paramount in rental services; any reputational damage could hinder bookings and investor confidence.

Why Short Term?

Immediate customer and market response likely to react negatively; reputational damage can affect short-term sales.

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