Investigation Overview
August 14, 2014 (Shareholders Foundation) - An investigation on behalf of investors of Santander Consumer USA Holdings Inc (NYSE:SC) shares over potential securities laws violations by Santander Consumer USA Holdings and certain of its directors and officers in connection certain financial statements was announced.
The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Santander Consumer USA Holdings Inc (NYSE:SC) concerning whether a series of statements by Santander Consumer USA Holdings regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Santander Consumer USA Holdings Inc went public in January 2014 and 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 NYSE:SC shares lost substantial value. In fact, NYSE:SC shares declined from almost $26 per share in March 2014 to as low as $17.41 per share on August 14, 2014.
On August 15, 2014, NYSE:SC shares closed at $17.60 per share.