SHAREHOLDER ALERT: Investigation on Behalf of Santander Consumer USA Holdings Inc. Investors Announced by Law Offices of Howard G. Smith
BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces that it is investigating potential claims on behalf of investors of Santander Consumer USA Holdings Inc. (“Santander Consumer” or the “Company”) (NYSE:SC). The investigation concerns possible violations of federal securities laws and focuses on statements issued by the Company concerning Santander Consumer’s business, operations and financial performance.
“production of documents and communications that, among other things, relate to the underwriting and securitization of nonprime auto loans since 2007.”
Santander Consumer is a specialized consumer finance company that provides vehicle finance and unsecured consumer lending products in the United States. The Company provides, among other things, used-car financing, other retail installment contracts, and nonprime auto loans. The investigation is related to Santander Consumer’s August 7, 2014, disclosure that the Company received a civil subpoena from the U.S. Department of Justice under the Financial Institutions Reform, Recovery and Enforcement Act (FIRREA). According to the Company, the subpoena requests “production of documents and communications that, among other things, relate to the underwriting and securitization of nonprime auto loans since 2007.”
If you purchased Santander Consumer shares, if you have information or would like to learn more about these claims, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at (888) 638-4847, or by email to firstname.lastname@example.org, or visit our website at www.howardsmithlaw.com.