An investigation for investors in NYSE:SC shares concerning potential breaches of fiduciary duties by certain directors and officers of Santander Consumer USA Holdings Inc was announced.
Investors who are current long term investors in Santander Consumer USA Holdings Inc (NYSE:SC) shares, have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 – 1554.
The investigation by a law firm for investors in NYSE:SC stocks follows a lawsuit pending against Santander Consumer USA Holdings Inc over alleged securities laws violations. The investigation on behalf of current long term investors in NYSE:SC stocks, concerns whether certain Santander Consumer USA Holdings directors are liable in connection with the allegations made in that lawsuit.
According to that complaint filed in the U.S. District Court for the Northern District of Texas the plaintiff alleges that the defendants made materially false and/or misleading statements regarding the Company’s financial performance and/or failed to disclose that (1) the Company’s methodology for estimating credit loss allowance on individually acquired retail installment contracts was improper; (2) as a result, the Company would need to correct its previously issued financial statements; and (3) as a result of the foregoing, defendants’ statements about Santander’s business, operations and prospects were false and misleading and/or lacked a reasonable basis.
Those who purchased NYSE:SC shares 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