SOURCE: Levi & Korsinsky, LLP

Levi & Korsinsky, LLP

October 23, 2014 13:15 ET

SHAREHOLDER ALERT: Levi & Korsinsky, LLP Reminds Investors of Class Action Against Santander Consumer USA Holdings Inc. and Its Board of Directors and a Lead Plaintiff Deadline of October 27, 2014 -- SC

NEW YORK, NY--(Marketwired - Oct 23, 2014) - Levi & Korsinsky announces that a class action lawsuit has been commenced in the United States District Court for the Southern District of New York on behalf of investors who purchased Santander Consumer USA Holdings Inc. ("Santander" or the "Company") (NYSE: SC) stock pursuant and/or traceable to the Company's Registration Statement and Prospectus issued in connection with the Company's January 23, 2014 Initial Public Offering.

For more information, click here: http://zlk.9nl.com/santander-consumer-sc.

The complaint alleges that defendants violated securities laws by their failure to disclose in the Offering Documents that the Company engaged in improper practices relating to the Company's subprime auto lending business, the true quality of the loans the Company had underwritten, and the inadequacy of the Company's underwriting standards.

On August 7, 2014 the Company announced that it had received a civil subpoena from the United States Department of Justice under the Financial Institutions Reform, Recovery and Enforcement Act, requesting the production of documents and communications related to the Company's underwriting and securitization of nonprime auto loans since 2007.

If you suffered a loss in Santander you have until October 27, 2014 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. To obtain additional information, contact Joseph E. Levi, Esq. either via email at jlevi@zlk.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://zlk.9nl.com/santander-consumer-sc

Levi & Korsinsky is a national firm with offices in New York, New Jersey, Connecticut and Washington D.C. The firm's 26 attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.

Contact Information

  • CONTACT:
    Levi & Korsinsky, LLP
    Joseph Levi, Esq.
    Eduard Korsinsky, Esq.
    30 Broad Street - 24th Floor
    New York, NY 10004
    Tel: (212) 363-7500
    Toll Free: (877) 363-5972
    Fax: (866) 367-6510
    www.zlk.com