SAN DIEGO, Aug. 24, 2021 (GLOBE NEWSWIRE) -- Shareholder rights law firm Johnson Fistel, LLP has launched an investigation into whether the board members of Santander Consumer USA Holdings Inc. (NYSE: SC) ("SC" or the "Company") breached their fiduciary duties in connection with the proposed sale of the Company to Santander Holdings USA ("SH").
On August 24, 2021, SC announced that it has entered into a definitive agreement to be acquired and taken private by SH, its majority shareholder. Under the terms of the agreement, SC stockholders will receive $41.50 per share in cash for each share held.
The investigation concerns whether the SC board failed to satisfy its duties to the Company shareholders, including whether the board adequately pursued alternatives to the acquisition and whether the board obtained the best price possible for SC shares of common stock. Nationally recognized, Johnson Fistel is investigating whether the proposed deal represents adequate consideration, especially given analysts' projections for future earnings and revenue; also, one Wall Street analyst has a $48.00 price target on the stock.
If you are a shareholder of SC and believe the proposed buyout price is too low or you're interested in learning more about the investigation, please contact lead analyst Jim Baker (jimb@johnsonfistel.com) at 619-814-4471. If emailing, please include a phone number.
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About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York, and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit https://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.
Contact:
Johnson Fistel, LLP
Jim Baker, 619-814-4471
jimb@johnsonfistel.com
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