SAN DIEGO, Sept. 8, 2014 (GLOBE NEWSWIRE) -- The Shareholders Foundation, Inc. announces that a lawsuit was filed on behalf of certain purchasers of shares of Santander Consumer USA Holdings Inc (SC) over alleged Violations of Federal Securities Laws by Santander Consumer USA Holdings Inc.
If you purchased shares of Santander Consumer USA Holdings Inc (SC), you have certain options and for certain investors are short and strict deadlines running. Deadline: October 27, 2014. Santander Consumer USA Holdings investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The plaintiff alleges on behalf of all persons or entities who purchased or otherwise acquired the common stock of Santander Consumer USA Holdings Inc (SC) pursuant and/or traceable to the Company's Registration Statement and Prospectus issued in connection with the Company's Initial Public Offering (the "IPO") on January 23, 2014, that the defendants violated Federal Securities Laws.
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. SC shares declined from almost $26 per share in March 2014 to as low as $17.35 per share on August 14, 2014.
Those who purchased shares of Santander Consumer USA Holdings Inc have certain options and should contact the Shareholders Foundation, Inc. by e-mail at mail@shareholdersfoundation.com or call +1 (858) 779-1554.
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.