An investigation was announced for long-term investors in shares of Santander Consumer USA Holdings Inc concerning potential breaches of fiduciary duties by certain directors.
Investors who purchased shares of Santander Consumer USA Holdings Inc (NYSE:SC) and currently hold any of those NYSE:SC shares have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 – 1554.
The investigation by a law firm concerns whether certain Santander Consumer USA Holdings directors breached their fiduciary duties and caused damage to the company and its shareholders.
March 18, 2016, a lawsuit was filed against Santander Consumer USA Holdings Inc over alleged securities laws violations. The plaintiff claimed that between February 3, 2015 and March 15, 2016 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.
Shareholders Foundation, Inc.
3111 Camino Del Rio North – Suite 423
92108 San Diego