NEW YORK, Sept. 3, 2014 (GLOBE NEWSWIRE) -- The Rosen Law Firm announced today that a class action lawsuit has been filed on behalf of all purchasers of the securities of Santander Consumer USA Holding, Inc. (NYSE:SC) seeking remedies under the federal securities laws.
To join the Santander class action, go to the website at http://rosenlegal.com/cases-343.html or call Phillip Kim, Esq. or Kevin Chan, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or kchan@rosenlegal.com for information on the class action.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. YOU MAY RETAIN COUNSEL OF YOUR CHOICE.
According to the lawsuit, defendants misstated and/or failed to disclose in its offering documents material facts, risks and uncertainties relating to the Company's underwriting and securitization of nonprime auto loans since 2007. On August 7, 2014, Santander shocked the market when it announced that it had received a civil subpoena from the US Department of Justice under the Financial Institutions Reform, Recovery and Enforcement Act requesting documents related to the Company's underwriting and securitization of nonprime auto loans since 2007. As a result, investors were damaged when Santander's share price dropped.
A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than October 27, 2014. If you wish to join the litigation go to http://rosenlegal.com/cases-343.html or to discuss your rights or interests regarding this class action, please contact, Phillip Kim, Esq. or Kevin Chan, Esq. of The Rosen Law Firm toll free at 866-767-3653 or via e-mail at pkim@rosenlegal.com or kchan@rosenlegal.com.
The Rosen Law Firm focuses on prosecuting securities class action litigation and actions involving financial fraud. The Rosen Law Firm represents investors throughout the globe.