SOURCE: Kessler Topaz Meltzer & Check, LLP

October 08, 2014 12:20 ET

Kessler Topaz Meltzer & Check, LLP Reminds Santander Consumer USA Holdings, Inc. (SC) Shareholders of Class Action and Upcoming Lead Plaintiff Deadline

RADNOR, PA--(Marketwired - Oct 8, 2014) - The law firm of Kessler Topaz Meltzer & Check, LLP reminds shareholders that a class action has been filed against Santander Consumer USA Holdings, Inc. (NYSE: SC) ("Santander" or the "Company") on behalf of purchasers of the Company's common stock issued pursuant and/or traceable to Santander's Initial Public Offering (the "IPO") on or about January 23, 2014.

Santander shareholders may, no later than October 27, 2014, petition the Court for appointment as a lead plaintiff of the Class.

Shareholders who wish to discuss this action and their options are encouraged to contact Kessler Topaz Meltzer & Check, LLP (Darren J. Check, Esq., D. Seamus Kaskela, Esq. or Adrienne O. Bell, Esq.) at (888) 299-7706. For additional information about this lawsuit, or to request information about this action online, please visit http://www.ktmc.com/case/SantanderConsumer.

Santander, a specialized consumer finance company, provides vehicle finance and unsecured consumer lending products in the United States. On or about January 23, 2014, Santander completed its IPO, selling approximately 85 million shares of stock to investors at $24.00 per share.

On August 7, 2014, after the close of trading, Santander disclosed that it had received a civil subpoena from the U.S. Department of Justice requesting the production of documents and communications that, among other things, related to the underwriting and securitization of nonprime auto loans since 2007. Following this news, shares of Santander's common stock closed at $17.95 per share on August 8, 2014, a cumulative decline of $6.05 per share, or over 25%, from the price of the Company's shares at the time of its January 2014 IPO.

Santander shareholders may, no later than October 27, 2014, petition the Court for appointment as a lead plaintiff of the class. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. In order to be appointed as a lead plaintiff, the Court must determine that the class member's claim is typical of the claims of other class members, and that the class member will adequately represent the class. Your ability to share in any recovery is not affected by the decision of whether or not to serve as a lead plaintiff. Any member of the purported class may move the court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.

If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP (Darren J. Check, Esq., D. Seamus Kaskela, Esq. or Adrienne O. Bell, Esq.) at (888) 299-7706 or (610) 667-7706, or via e-mail at info@ktmc.com. The complaint in this action was not filed by Kessler Topaz Meltzer & Check. For additional information about the lawsuit, or to request information about the action, please visit http://www.ktmc.com/case/SantanderConsumer.

Kessler Topaz Meltzer & Check prosecutes class actions in state and federal courts throughout the country. Kessler Topaz Meltzer & Check is a driving force behind corporate governance reform, and has recovered billions of dollars on behalf of institutional and individual investors from the United States and around the world. The firm represents investors, consumers and whistleblowers (private citizens who report fraudulent practices against the government and share in the recovery of government dollars). For more information about Kessler Topaz Meltzer & Check, or for additional information about participating in this action, please visit www.ktmc.com.

Contact Information

  • CONTACT:
    Kessler Topaz Meltzer & Check, LLP
    Darren J. Check, Esq.
    D. Seamus Kaskela, Esq.
    Adrienne O. Bell, Esq.
    280 King of Prussia Road
    Radnor, PA 19087
    (888) 299-7706 or (610) 667-7706
    Email Contact