The Shareholders Foundation announces that a deadline is coming up on October 27, 2014 in the lawsuit filed for investors of Santander Consumer USA Holdings Inc (NYSE:SC) over alleged violations of Federal Securities Laws.
Investors who purchased shares of Santander Consumer USA Holdings Inc (NYSE:SC) have certain options and there are strict and short deadlines running. Deadline: October 27, 2014. NYSE:SC stockholders should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 – 1554.
According to the complaint filed in the Southern District of New York the plaintiff alleges on behalf of purchasers of Santander Consumer USA Holdings Inc (NYSE:SC) pursuant and/or traceable to the Company’s Registration Statement and Prospectus issued in connection with the Company’s 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.
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 October 6, 2014, NYSE:SC shares closed at $18.39 per share.
Those who purchased shares of Santander Consumer USA Holdings Inc (NYSE:SC) have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North – Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com