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You must submit the settlement Proof form attached below, in order to participate in this settlement. There is a strict deadline of January 4, 2021 by which all claims must be submitted. The instructions for submitting are included in the Proof and the Notice files attached below for your download. DO NOT SEND THE FORMS TO THE SHAREHOLDERS FOUNDATION, INC.
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To have your information reviewed for options and to receive notifications about this case, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Lawsuit Overview
Settlement Overview
You must register to view and download the Settlement Notice and Settlement Proof.
August 13, 2020 - The court preliminarily approved the settlement.
July 28, 2020 - A stipulation and agreement of settlement was entered by the parties.
October 30, 2015 - An amended complaint was filed.
June 17, 2015 - The case was transferred to the U.S. District Court for the Northern District of Texas.
August 26, 2014 - An investor in shares of Santander Consumer USA Holdings Inc (NYSE: SC) filed a lawsuit in the U.S. District Court for the Southern District of New York against Santander Consumer USA Holdings Inc over alleged violations of Federal Securities Laws in connection with certain allegedly false and misleading statements made in connection with the Santander Consumer USA Holdings Inc’s Initial Public Offering on January 23, 2014.
According to the complaint the plaintiff alleges on behalf of all persons or entities who purchased or otherwise acquired the common stock of Santander Consumer USA Holdings Inc (NYSE: SC) pursuant and/or traceable to Santander Consumer USA Holdings Inc’s Registration Statement and Prospectus issued in connection with the Company’s IPO on January 23, 2014, that the defendants violated Federal Securities Laws. NYSE:SC shares reached $25.90 per share on March 3, 2014.
On March 6, 2014, Santander Consumer USA Holdings Inc reported that its annual Total Revenue rose from over $3.24 billion in 2012 to over $4.1 billion in 2013 while its respective Net Income declined from $715 million to $697.49 million. Since then Santander Consumer USA Holdings Inc (NYSE: SC) shares lost substantial value.
On August 7, 2014, after the close of trading, Santander Consumer USA Holdings Inc disclosed in in a quarterly filing that it had received a civil subpoena from the United States Department of Justice under the Financial Institutions Reform, Recovery and Enforcement Act (“FIRREA”) requesting the production of documents and communications related to the Company’s underwriting and securitization of nonprime auto loans since 2007.
Santander Consumer USA Holdings Inc (NYSE: SC) shares declined from almost $26 per share in March 2014 to as low as $17.41 per share on August 14, 2014.