This is a roundup of news and other interesting pieces that I’ve come across over the last few days. Hertz faces lawsuit from 47 customers claiming false arrests, Wells Fargo to convert legacy cards to Active Cash, ISS urges Spirit shareholders to vote against Frontier, Coinbase shutting down influencer program, and a new Princess Cruises promo.
The lawsuit alleges systematic flaws in Hertz’s reporting of thefts, including not recording rental extensions, falsely claiming customers haven’t paid, failing to track its own vehicle inventory and failing to correct false reports to police. The lawsuit was filed in Delaware Superior Court and comes on the heels of a court ruling that these cases could be pursued outside bankruptcy court. (Hertz had filed for bankruptcy in May 2020 before emerging in July 2021.)
Wells Fargo has announced that legacy credit cards will be converted to the Wells Fargo Active Cash on August 20, 2022, with the new card arriving by mid September 2022.
Proxy advisory firm Institutional Shareholder Services on Friday reversed its stance on Spirit Airlines’ planned tie-up with Frontier Airlines, urging Spirit shareholders to vote against the deal and calling JetBlue Airways’ all-cash bid a “superior alternative,” yet another twist in the battle for the budget airline.
ISS in May originally urged shareholders to vote against the Frontier cash-and-stock deal, then in late June changed its recommendation after Frontier sweetened its bid to include a reverse breakup fee that matched JetBlue’s.
Coinbase is “temporarily shutting down” its US affiliate program for influencers and publishers. In leaked emails shared with Insider, Coinbase said the US program will close on July 19. In those same emails, the company said it plans to relaunch the program in 2023.
Princess Cruises’ new Kids Sail Free offer is offering families even bigger savings on their 2023 vacation plans. The first of its kind offer from Princess can also be paired with discounts of up to 25%, making vacations in the new year even more affordable.